Tata Power, one of India’s largest integrated power companies, which operates across the entire power value chain including Generation, Transmission & Distribution, Renewables and Trading, today released its consolidated results for Q3 FY23.
With significant growth across all its businesses, the company continues to solidify its position as the nation’s premier green energy and consumer-centric power utility. Tata Power’s PAT has risen for the 13th straight quarter and has witnessed significant rise in Consolidated Revenue and EBITDA demonstrating the effectiveness of its business strategy.
Consolidated Performance Highlights: Q3 FY23 (YoY)
- Consolidated PAT up by 91% at ₹ 1,052 crore vs ₹ 552 crore in Q3 FY22 on account of better performance across all businesses
- Consolidated EBITDA up by 53% at ₹ 2,818 crore vs ₹ 1,841 crore in Q3 FY22 on account of capacity addition in Renewables and better performance across all businesses
- Consolidated Revenue up by 30% at ₹ 14,339 crore vs ₹ 11,015 crore in Q3 FY22 on account of capacity addition in Renewables, higher generation in Thermal plants and higher sales in Distribution Companies
Consolidated Performance Highlights: YTD Q3 FY23 (YoY)
- Consolidated PAT up by 88% at ₹ 2,871 crore vs ₹ 1,523 crore in YTD Q3 FY22 on account of better performance across all businesses
- Consolidated EBITDA up by 17% at ₹ 6,968 crore vs ₹ 5,938 crore in YTD Q3 FY22 on account of capacity addition in Renewables and better performance across businesses
- Consolidated Revenue up by 42% at ₹ 43,278 crore vs ₹ 30,491 crore in YTD Q3 FY22 on account of capacity addition in Renewables, higher generation in Thermal plants and higher sales across Distribution Companies.
Highlighting the key aspects of the company’s Q3FY23 performance, Dr. Praveer Sinha, CEO & MD, Tata Power, said “We are pleased to report another quarter of strong financial results with PAT growing for the 13th consecutive quarter.
The stellar performance from all our business clusters – Generation, Transmission, Distribution, and Renewables has placed us in a very bright spot. The first three quarters of the current fiscal have ended on a strong note, delivering sequential revenue growth and profit.
The third quarter saw significant strides in various businesses associated with our Green Energy Platform and Transmission & Distribution (T&D) business. We have committed investments in Renewables and in Odisha Power Distribution and have further strengthened our position in Rooftop Solar and EV charging domains.
We look forward to another successful quarter and I am confident that we will continue to create greater value for all our stakeholders. In the year of India’s G20 Presidency, we are committed to contribute towards making the country’s power sector future ready through path-breaking work in green energy transition.”
