May22 , 2022

Tata Power Q4 Results: Profit Rises 28% To ₹503 Cr; Firm Declares Dividend

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Tata Power reported consolidated net profit of 503 crore for the March quarter, up 28%, compared with 393 crore in the same period.

Revenue from operations rose 15% to 11,960 crore for the period under review.

On Friday, Tata Power stock settled 0.22% lower at 246.95 apiece on NSE.

The Board has also recommended a dividend of 1.75 per equity share.

Consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) was up by 35% at 2,253 crore as against 1,668 crore in the same quarter last year.

“We ended FY22 on a high note, with our 10th consecutive quarter of PAT growth, fueled by broad-based growth across all our business clusters comprising Generation, Transmission, Distribution including Odisha and Renewables. Our proven track record in the renewable energy space has attracted reputed global investors (BlackRock Real Assets and Mubadala) to join us in speeding up India’s transition to green energy,” said Tata Power CEO and MD Praveer Sinha.

Renewable portfolio PAT grew by 60% in Q4FY22 vs Q4FY21 due to the addition of 707 MW capacity in FY22. There is also strong execution of both large scale and rooftop solar projects during the quarter.

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