Tata Power reports exemplary 90% YoY growth in PAT to Rs884 crore in Q1FY23; revenue climbs to Rs14,776 crore
Tata Power Limited announced its results for the quarter ended June 30, 2022 and the company released robust figures during the quarter.
The company’s consolidated PAT (before exceptional items) grew by 90% year-on-year to Rs884 crore in Q1FY23 from Rs466 crore in Q1FY22 on improved performance across all businesses, mainly driven by coal companies. Standalone PAT recorded 19% year-on-year growth to Rs421 crore from Rs354 crore in Q1FY22.
Tata Power’s consolidated revenue jumped 48% year-on-year to Rs 14,776 crore from Rs 9,974 crore in the previous corresponding quarter.
The company reported consolidated EBITDA of Rs 2,107 crore in Q1FY23 compared to Rs 2,365 crore in Q1FY22 due to regulatory orders favorable to Mundra in PY. While standalone EBITDA stood at Rs 1,271 crore compared to Rs 1,405 crore in Q1FY22.
During the quarter, Tata Power’s total renewable capacity was 5,524 MW, with installed capacity of 3,634 MW and 1,890 MW at various stages of implementation.
In the quarter under review, the company has a strong Solar EPC backlog of Rs14,626 crore winning 1.7GW projects in Q1FY23.
At around 09:32, Tata Power was trading at Rs219.30 down Rs6.85 or 3.03% from its previous close of Rs226.15 on BSE. The certificate opened at Rs221.90 and hit the intraday high and low of Rs223.90 and Rs219 respectively.