Tata Power Q4 Results: Net profit jumps 11% YoY to Rs 1,045 crore
Mumbai: Tata Power Company, India's largest private integrated utility reported an 11.3% increase in net profit for the quarter ended March 31, 2024, on the back of higher revenues.
During the quarter, net profit came in at Rs 1045.5 crore against Rs 938.8 crore reported in the fourth quarter of the last fiscal year.
Income rose 27% to Rs 15846.5 crore from Rs 12,453 crore in the fourth quarter of the previous fiscal year.
For the full year, net profit rose 12.3% to Rs 4280 crore against Rs 3809.6 crore in FY23. Income for FY24 rose 11.5% to Rs 61449 crore against Rs 55109 crore in FY23.
The company’s board of directors has recommended a dividend of Rs 2 per equity share, subject to shareholders’ approval.
«The company reported yet another quarter of stellar results with Q4FY24 being the 18th consecutive quarter of PAT growth,» said Praveer Sinha, CEO and Managing Director, Tata Power, adding that the operational and financial performance of all core businesses – generation, transmission and distribution &D and renewables has been strong and on a growth path.
«We are well-poised to take on newer power distribution opportunities once they open for privatisation. The rooftop solar business is displaying growth momentum and with a portfolio of over 2 GW, we are well-positioned to tap the increasing opportunities, especially under the PM Surya Ghar Yojana which aims to light up one crore households,» added Sinha.
The company said its 4.3 GW cell and module manufacturing facility in Tirunelveli, Tamil Nadu has
