Tata Power Q2 Results: Net profit jumps 51% YoY to Rs 1,533 crore
Tata Power on Wednesday reported a 51% jump in its net profit (before exceptional items) for the quarter ended September 2024 to Rs 1,533 crore as against Rs 1,017 crore posted in the year-ago quarter.
Revenue from operations, meanwhile, fell 1% year-on-year to Rs 15,247 crore.
Consolidated EBITDA during the quarter rose 23% to Rs 3,808 crore on the back of ramped up solar manufacturing, favorable regulatory development in distribution, and operational efficiency across businesses.
“Our Generation, Transmission and Distribution, and Renewable businesses continue to witness sustained growth momentum as India sees record power demand and investment in the new Age of Electricity. All our business segments have performed remarkably well during the quarter leading to 20th consecutive quarterly PAT growth," said Praveer Sinha, CEO and Managing Director, Tata Power.
The company said it was well on track in terms of the planned capex for the financial year, with Rs 9,100 crore spent during H1 out of Rs 20,000 crore.
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