Tata Power posts $127.6 million profit in Q3 FY 2022-23

Share

Tata Power, one of India’s largest integrated power companies, has reported a strong performance in the third quarter of FY2022-23. Its consolidated profit after tax or net profit surged 91% to INR 1,052 crore, against INR 552 crore recorded in Q3 FY2021-22. Consolidated revenue was up by 30% year-on-year at INR 14,339 crore.

The company attributed the strong business performance to capacity addition in renewables, higher generation in thermal plants, and higher sales in distribution companies.

Tata Power has a presence across the entire power value chain including the generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, and trading. It has an installed/managed capacity of 14,101 MW, including 5,241 MW of clean energy generation from solar, wind, hydro, and waste heat recovery accounting for 37% of the overall portfolio.

The company’s solar order pipeline, including third-party projects, stands at 3.9 GW worth INR 15,440 crore. The rooftop solar order pipeline is over INR 1,300+ crore.

Key business highlights of Q3 include a 255 MW hybrid wind-solar project with a green shoe option for another 255 MW awarded by Tata Power Delhi Distribution Ltd and a 150 MW solar project in Maharashtra awarded by Maharashtra State Electricity Distribution Corp. Ltd (MSEDCL).

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

Alpex Solar appoints global head of EPC business
11 July 2024 Alpex Solar Ltd has appointed Gaurav Bector as the global head of its EPC (engineering, procurement and construction) business as the company looks to...