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Tata Power Reports Q1FY25 Financial Results, Growth Across All Segments

Tata Power, one of India's largest integrated power companies, has announced its financial results for the first quarter of the fiscal year 2025 (Q1FY25).

August 08, 2024. By News Bureau

Tata Power, one of India's largest integrated power companies, has announced its financial results for the first quarter of the fiscal year 2025 (Q1FY25). 

The company reported its highest-ever quarterly profit after tax (PAT) at INR 1,189 crore, marking a 31 percent year-on-year (YoY) growth. This milestone represents the 19th consecutive quarter of PAT growth, driven by strong operational performance and strategic execution across its Generation, Transmission & Distribution, and Renewables businesses.

The company's revenue rose 12 percent YoY to a record high of INR 16,810 crore, while EBITDA increased by 11 percent to INR 3,350 crore in the reported quarter. Notably, the Generation, Transmission & Distribution, and Renewables segments contributed 84 percent of the PAT in Q1FY25, up from 72 percent in the same period of FY24.

Tata Power's clean and green installed capacity stands at 6.1 GW as of Q1FY25, accounting for 41 percent of the total capacity, with an additional 5.3 GW under execution. The company's order pipeline, valued at approximately INR 15,500 crore, is a significant driver of its comprehensive business growth. 

In the Odisha distribution business, Tata Power has significantly reduced AT&C losses through enhanced operational efficiency. The four Odisha discoms reported a robust 20 percent growth in EBITDA for Q1FY25. Additionally, the Delhi Electricity Regulatory Commission has recognized regulatory assets worth INR 5,788 crore for Tata Power Delhi Distribution Limited.

Tata Power has also made strides in accelerating solar adoption. The company commenced solar module production at its newly built 4.3 GW solar module and cell manufacturing plant in Tirunelveli, Tamil Nadu. In its first quarter of operations, the unit produced 600 MW of modules, generating approximately INR 1,000 crore in revenue and a profit of INR 54 crore. Tata Power is currently developing about 2 GW of Firm and Dispatchable Renewable Energy (FDRE) projects, aiming to increase its clean and green portfolio to over 11 GW, representing 56 percent of the total capacity within the next 12-24 months.

The order book for Tata Power's solar EPC business, including rooftop and group captive projects, currently totals 3.2 GW, valued at over INR 15,500 crore, while the renewable projects pipeline is 5.3 GW. The company recently surpassed the milestone of 100,000 rooftop installations across India, driven by its 'Ghar Ghar Solar, Tata Power ke Sang' campaign promoting rooftop solar adoption nationwide. 

In the e-mobility sector, Tata Power has installed more than 5,600 public and captive charge points, 1,100+ bus chargers, and over 100,000 home chargers across the country.

In a significant achievement, Tata Power secured its first greenfield Intra-state TBCB (Tariff Based Competitive Bidding) win in Odisha, with a 384 CKm Paradeep-Angul 765 kV substation bid worth INR 2,300 crore, expanding its total transmission pipeline to over 2,000 CKm. 

The company is also harnessing the potential of hydropower through the development of the 600 MW Khorlochhu power project in Bhutan and the upcoming 2,800 MW pumped hydro storage plants in Maharashtra. Initiatives like these have contributed to Tata Power's upgraded ICRA & CARE ratings from AA/Positive to AA+/Stable.

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