Tata Power PAT up 29% in Q1

livemint.com:

₹1,141 crore as compared to ₹884 crore during the same period last year. The company attributed its performance to sustained business growth across all clusters, but profits from its coal companies have reduced. “We have been able to get orders of 1,200 MW in Q1.

And our total installed capacity now is 4,127 and nearly 3,656 MW are under construction. We are actually now nearing 8,000 MW in renewal...Our profit from the coal business is nearly two-thirds of our total profit, but this time it isn’t there. And we don’t believe coal prices to go up in the near future," said Praveer Sinha, CEO & MD Tata Power.

The company reported a 2% y-o-y increase in revenue at ₹15,003 crore this fiscal, which was due to higher sales across distribution companies (with higher power prices in Odisha Discoms contributing as well) and capacity addition in renewables. The company’s consolidated earnings before interest, tax, depreciation, and amortisation (Ebitda) was ₹3,005 crore in first quarter of current fiscal, with a margin of 15%, owing to lower under-recovery in Mundra Plant and positive regulatory order in Maithon Power Ltd (MPL). The company’s net debt was ₹37,749 crore with debt-to-equity ratio of 1.59x in first quarter of the current fiscal year.

Commenting on the occasion, Sinha said, “This is the result of our effective strategies, operational efficiencies, and execution excellence driven by our committed workforce. We have planned ₹12,000 crore of capex for the current financial year that would help us lead the green energy transition and in growth opportunities in transmission and distribution business." “Tata Power is well poised to develop round-the-clock renewable power solutions. We are making significant progress in