Tata Power Announces FY20-21 Results: Revenue Stood at Rs 6,480 Crore

Tata Power on Wednesday posted a marginal rise of 1 % in consolidated net profit at Rs 481.21 crore for March quarter 2020-21.

Tata Power clocked a net profit of Rs 474.70 crore in the year-ago period, the company said in a BSE filing.

Total income rose to Rs 10,222.48 crore in the quarter from Rs 6,793.95 crore in the same period a year ago.

Revenue for the quarter was up by 49% at ₹10,255 crore as compared to ₹6,881 crore in Q4FY20 mainly driven by Odisha DISCOMs acquisition and higher execution of solar EPC Projects

FY21 Consolidated PAT before Exceptional Items up by 16% at ₹1,424 crore as against ₹1,231 crore in previous year

FY21 Revenue was up by 14% at ₹33,079 crore as compared to ₹ 28,948 crore mainly due to Odisha DISCOMs acquisition and higher execution of solar EPC Projects

For the Financial Year ended March 31, 2021 Revenue stood at ₹6,480 crore as compared to ₹7,075 crore last year EBITDA for FY21 stood at ₹3,366 crore as against ₹2,853 crore in the previous year PAT before Exceptional Items for FY21 stood at ₹907 crore as against ₹479 crore PAT for FY21 stood at ₹ 921 crore as against 148 crore mainly due to higher dividend

Commenting on the Company’s performance, Dr Praveer Sinha, CEO & MD, Tata Power said, “All our businesses and operations have performed exceptionally well. This can be attributed to the overall excellent performance of the generation, transmission, distribution and renewable businesses.

As India continues to fight the war against COVID-19, we stand strong with the nation to provide uninterrupted power supply and ensure that citizens continue to work from home, office, factory, as also the medical staff, law enforcement agencies and other essential services continue to serve the nation.

Our consumer base in Odisha has expanded to 9 million with the recent acquisition of the retail power distribution for the entire state. With this, we have steadily grown to around 12 million consumers across the country, continuing to build our business in line with our strategy to become a highly consumer focused power utility.