Tata Power slides as Q1 PAT declines to Rs 971 crore

Tata Power Company shed 1.40% to Rs 430.70 after its consolidated net profit decreased marginally to Rs 970.91 crore in Q1 FY25 as compared with Rs 972.49 crore in Q1 FY24.

Revenue from operations grew 13.67% to Rs 17,293.62 crore during the first quarter as compared with Rs 15,213.29 crore in the corresponding quarter last year.

Profit before tax (PBT) stood at Rs 1,490.34 crore in June 2024 quarter as against Rs 1,475.55 crore in similar period a year ago.

EBITDA stood at Rs 3,350 crore, registering the growth of 11% as compared with Rs 3,005 crore posted in June 2023 quarter.

 

The company has a clean and green installed capacity of 6.1 GW as of Q1FY25, accounting for 41% of the capacity, with another 5.3 GW under execution. The combined order pipeline for utility-scale EPC and solar rooftop, including group captive, is around Rs 15,500 crore. Tata Power is well poised to garner ~20% market share in the residential rooftop segment on the back of its new solar manufacturing facility and strong pan-India channel partner network.

The company reported its highest ever and 19th consecutive quarter of PAT growth on the back of strong operational performance and execution excellence across all its businesses of generation, transmission & distribution, and renewables. Tata Power is well poised to garner ~20% market share in the residential rooftop segment on the back of its new solar manufacturing facility and strong pan-India channel partner network, Tata Power stated in regulatory filing.

Praveer Sinha, CEO and managing director, Tata Power, said, All our businesses have grown profitably on the back of operational efficiency, execution excellence, and sustained business momentum. With our pan-India campaign, Ghar Ghar Solar Tata Power Ke Sang, we are powering solar adoption in the country via solar panels manufactured in our newly built 4.3 GW solar module and cell plant in Tamil Nadu.

We have also made significant strides towards advancing sustainable mobility solutions, becoming the first EV charging solutions provider to surpass the installation of 1 lakh home EV chargers. We also have a growing pan-India network of over 5600 public / captive chargers.

Our planned capex for this financial year is Rs 20,000 crore. We are committed to adopting and leading the new and emerging clean energy technologies, including pumped hydro projects, hydropower project in Bhutan, and opportunities to develop small modular nuclear reactors as Government policy evolves."

Meanwhile, the company has proposed acquisition of 40% equity stake in Khorlochhu Hydro Power (KHPL) for Rs 830 crore in one or more tranches for which share purchase agreement would also be executed between the company, existing shareholder of KHPL and KHPL. The objective of acquisition is development of the 600 MW Khorlochhu Hydropower Project in Bhutan with an investment of Rs 6,900 crore. This project will support Tata Power to accelerate its clean and green energy transition.

Tata Power Company is one of India's largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed / managed capacity of 14,453 MW. The company has a presence across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics, and trading.

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