Tata Power Q1 Results: Net Profit increases 22% YoY to Rs 973 crore, revenue rise 5%

For the quarter that ended in June 2023, Tata Power's consolidated net profit increased by 22.4% YoY to Rs 972.49 crore. Consolidated revenue from operations increased by about 5% to Rs 15,213.29 crore.

The topline increased by 22% and the bottom line by 25% sequentially.

EBITDA rose by 75% YoY to Rs 2,943.60 crore. The operating profit margin increased significantly by 774 bps to 19.35%.

In comparison to the same quarter last year, the cost of purchased power was Rs 5,392 crore as opposed to Rs 5,123.2 crore. Fuel costs fell to Rs 3,473.4 crore in the quarter from Rs 4,216 crore the previous year.

The company stated in a release that increased sales across distribution companies and capacity expansion in the renewables industry helped to boost the top line, while decreased recovery in the Mundra plant and a favorable regulatory order in favor of Maithon Power Ltd. helped the operational performance in the quarter.

In the reporting quarter, Tata Power accrued a one-time gain of Rs 235 crore due to the deemed gain on the dilution of around 17% stake in Tata Projects.

Tata Power has a total installed capacity of 14,294 MW, 62% of which is thermal power and the remaining is renewable energy.

The company's EPC business now has an order book of 4,200 MW, with third-party EPC projects accounting for 57% of the value. This order book is valued at about Rs 17,600 crore.

Tata Power is one of India's largest integrated power companies, and together with its subsidiaries and jointly controlled entities, has an installed/managed capacity of 14,319 MW.

Source: Media Reports