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Tata Power, one of India’s largest integrated power companies, with operations across the entire power value chain – Generation, Transmission, Distribution, Renewables and Trading, today announced its consolidated results for Q2 FY23.
The Company has cemented its position as the leading Green Energy and Consumer Centric Brand with strong growth across businesses. Tata Power’s PAT has increased for the 12th consecutive quarter, demonstrating the effectiveness of its business strategy.
Consolidated Performance Highlights Q2FY23
- Consolidated PAT up by 85 % at ₹ 935 crore vs ₹ 506 crore in Q2FY22 on account of improved performance across all businesses
- Consolidated Revenue up by 49% at ₹ 14,163 crore vs ₹ 9,502 crore in Q2FY22 on account of higher plant availability in Mundra, higher sales across distribution companies and capacity addition in Renewables
- Consolidated EBITDA up by 18% at ₹ 2,043 crore vs ₹ 1,732 crore in Q2FY22 on account of higher availability in Mundra, capacity addition in Renewables and higher efficiencies achieved in the distribution business specially in Odisha Discoms
Consolidated Performance Highlights H1FY23
- Consolidated PAT up by 87% at ₹ 1,819 crore vs ₹ 971 crore in H1FY22 due to favourable performance across all businesses mainly profit from coal companies
- Consolidated Revenue up by 49% at ₹ 28,939 crore vs ₹ 19,476 crore in H1FY22 on account of increased availability in Mundra, capacity addition in Renewables and higher sales across distribution companies
- Consolidated EBITDA stood at ₹ 4,150 crore vs ₹ 4,097 crore in H1FY22 on account of higher availability in Mundra and capacity addition in Renewables
Highlighting the key aspects of the Company’s quarterly performance, Dr. Praveer Sinha, CEO & MD, Tata Power said, “We have witnessed strong performance from all of our business clusters – Generation, Transmission, Distribution, including Odisha, and Renewables. The fact that our PAT has increased for 12th consecutive quarters demonstrates the strong foundations upon which each of these businesses have been built.
We are working towards strengthening our presence across the entire Green and Clean Energy value chain. We are building smart,sustainable and customised clean energy products and solutions for our more than 12 million consumers across rural and urban India in order to become the preferred power utility of their choice. Our goals are aligned with the country’s energy priorities, and we will keep working towards accelerating India’s transition to clean energy while putting a sharp focus on the 3 Ds – Decarbonisation, Digitization, and Decentralisation which are the pillars of the new age energy sector.”