Tata Power has announced its results for Q1 FY23 reporting a 90% YoY increase in consolidated quarterly PAT as compared to Q1FY22, registering its 11th consecutive year-on-year quarterly growth in PAT.
Quarterly Highlights – Q1FY23
· Consolidated PAT before Exceptional Items up by 90% at ₹884 crore vs ₹466 crore in Q1FY22 (due to improved performance across all businesses mainly profit from Coal Companies)
· Consolidated Revenue up by 48% at ₹14,776 crore vs ₹9,974 crore in Q1FY22
· Consolidated EBITDA stood at ₹2,107 crore vs ₹2,365 crore in Q1FY22 (due to favourable regulatory order in Mundra in PY)
· Standalone PAT up by 19% at ₹421 crore as compared to ₹354 crore in Q1FY22 (due to higher dividend income from overseas subsidiary)
· Standalone EBITDA stood at ₹1,271 crore as compared to ₹1,405 crore in Q1FY22 (due to favourable regulatory order in Mundra in PY)
Commenting on the company’s performance, Dr. Praveer Sinha, CEO & MD at Tata Power said, “We have started the new fiscal year on a solid note with all of our business clusters – Generation, Transmission, Distribution, including Odisha, and Renewables – performing very well. This is aptly reflected in our 11th consecutive quarter of PAT growth. We have a robust growth trajectory with stable long-term cost structures and competitiveness across businesses. We are offering a wide range of energy services across the entire value chain along with cutting-edge technologies and superior project execution capabilities. As a future-ready EaaS company, we are well poised to contribute towards India’s green energy transition.”