▪ Q3 Consolidated PAT maintained at ₹612 crore, similar to the corresponding quarter last year.
▪ Strong operating performance despite adverse one-off items in the quarter. Underlying EBITDA# for the quarter stood at ₹2,382 Cr. YTD Q3 FY18 consolidated underlying EBITDA# up by 18% at ₹7,625 crore.
▪ Tata Power renewable portfolio’s PAT jumps four-fold to ₹72 crore in Q3 FY18 as compared to ₹14 crore in Q3 FY17 mainly due to refinancing of loans in WREL. TPREL PAT impacted by lower fixed cost absorption in newly commissioned projects under stabilization.
▪ Q3 FY18 consolidated revenue* for the quarter stood at ₹7,096 crore, up by 6% as compared to Q3 FY17.
▪ Q3 FY18 standalone profit after tax stood at ₹524 crore, up by 73% from Q3 FY17 mainly due to higher one-off gains of ₹188 crore. CGPL contained losses despite higher coal prices at ₹213 crore for the quarter as compared to ₹ 244 crore in previous year.
National, February 14, 2018: Tata Power, India’s largest integrated power company, today announced its results for the quarter ended 31 st December 2017.
PERFORMANCE HIGHLIGHTS Q3 FY18: CONSOLIDATED
▪ Tata Power’s consolidated Q3 FY18 revenue* stood at ₹7,096 crore as compared to ₹6,710 crore in the corresponding quarter last year mainly due to higher power purchase cost.
▪ Tata Power renewable portfolio’s profit jumps four-fold in Q3 FY18 as compared to Q3 FY17 mainly due to WREL profits.
▪ Q3 FY18 PAT stood at ₹612 crore as compared to ₹619 crore in Q3 FY17 mainly due to one-off gains in Q3 FY17 of ₹355 crore offset by one-time gains of ₹299 crore in Q3 FY18 and adverse impact of tariff order in MPL of ₹96 crore.
PERFORMANCE HIGHLIGHTS Q3 FY18: STANDALONE
▪ Standalone revenue* stood at ₹1,842 crore as against ₹1,675 crore in Q3 FY17 mainly due to higher fuel cost and higher income tax entitlement.
▪ PAT for Q3 FY18 stood at ₹524 crore as compared to ₹303 crore in corresponding quarter last year mainly due to one-off gain of ₹188 crore.
Commenting on the Company’s performance, Mr. Anil Sardana, CEO & Managing Director, Tata Power said, “Tata Power has been focusing on building a healthy energy mix within portfolio that is in line with our commitment towards ensuring a sustainable future. We have been working towards achieving this goal by growing our renewable energy business through the addition of organic and inorganic projects. In a short span of 5 years, we have grown to become one of the largest renewable energy player in India. We will continue to pursue renewable energy opportunities to increase our operational efficiencies. The Company has also successfully adopted and implemented best-in-class technological solutions for the ease & betterment of its customers and stakeholders. The successful digitalization of our business processes is a testimony to our technology forward approach. In 2017, we were thrilled to launch the first electric vehicle charging stations in Mumbai. As the nation moves towards clean and affordable power for all, it is our endeavor to provide customers with the competitive solutions for a greener tomorrow.”
Consolidated Q3 FY18:
▪ Consolidated PAT stood at ₹612 crore, as against ₹619 crore in Q3 FY17
▪ Revenue* for the quarter stood at ₹7,096 crore, up by 6% from Q3 FY17
▪ Tata Power renewable portfolio’s profit jumps four-fold to ₹72 crore in Q3 FY18 as compared to ₹14 crore in Q3 FY17
Standalone Q3 FY18:
▪ Q3 FY18 standalone profit after stood at ₹524 crore, up by 73% as compared to Q3 FY17 mainly due to one-off gain of ₹188 crore
▪ Revenue* for the quarter stood at ₹1,842 crore, up by 10% as compared to ₹1,675 crore in Q3 FY17
Key Business Highlights:
▪ Together with all its subsidiaries, Tata Power achieved generation of 12,402 MUs of power from all its power plants in Q3 FY18
▪ Tata Power Group has successfully added 227 MW of Solar Capacity and 5.4 MW of thermal capacity to its portfolio during Q3 FY18
▪ Tata Power signed a MoU with Central Board of Irrigation & Power to bridge the skillgap in power sector
▪ Tata Power became the founding member of CII - Ethisphere South Asia Business Ethics Leadership Alliance Chapter
▪ Tata Power was awarded for "Domain Excellence in biodiversity conservation at CIIITC Sustainability Awards 2017"
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