Tata Power, one of India’s largest integrated power companies with operations across the entire value chain, has reported a net profit of INR 1,141 crore in Q1 FY 2024, a 29% growth year-on-year. Consolidated revenue for the quarter stood at INR 15,003 crore, and EBITDA rose by 43% YoY to INR 3,005 crore.
The company attributed the strong financial performance to sustained business growth across all clusters.
Praveer Sinha, CEO and MD of Tata Power, said, “We have delivered a 15th consecutive quarter of PAT growth on the back of strong performance across all business clusters. This is the result of our effective strategies, operational efficiencies, and execution excellence driven by our committed workforce.”
Sinha said Tata Power plans nearly INR 12,000 crore of capex for the current financial year to help it lead the green energy transition and in the growth opportunities in the transmission and distribution business.
“Tata Power is well poised to develop round-the-clock renewable power solutions. We are making significant progress in developing solutions around battery storage, pumped hydro projects, and other hybrid solutions. This will support the RE100 agenda of large enterprises and also contribute towards clean energy solutions for our C&I consumers,” he added.
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