Tata Power, one of India’s leading integrated power companies, announced its financial results for Q4 and full year FY23. The company witnessed growth across all its business verticals and strengthened its position as one of the country’s leading green-energy and consumer-centric power utilities. Tata Power reported a rise in Consolidated Revenue and EBITDA, and its PAT has risen for the 14th straight quarter (YoY), demonstrating the effectiveness of its business strategy and operational excellence.
In Q4FY23, Tata Power’s consolidated revenue rose by 6% YoY, reaching ₹12,755 crore, while its consolidated EBITDA rose by 38%, reaching ₹3,101 crore. Its consolidated Reported PAT was up by 48% YoY at ₹939 crore. The increase was supported by strong performance across all businesses, including higher sales across Distribution Companies & capacity addition in Renewables.
For the full year FY23, Tata Power’s consolidated revenue grew by 32% YoY to reach ₹56,033 crore. The growth was due to higher availability in Mundra Thermal Plant which operated under Ministry of Power (MoP) guidelines, higher sales across distribution companies & robust addition in Renewables portfolio. Its consolidated EBITDA grew by 23% YoY to reach ₹10,068 crore, while the consolidated Reported PAT increased by 77% YoY to reach ₹3,810 crore.
Dr. Praveer Sinha, CEO & MD, Tata Power, expressed delight over the company’s strong performance in FY23, adding that Tata Power is rapidly transforming into a new-age sustainable technology-oriented and customer-centric green energy solutions company with a healthy mix of regulated and unregulated businesses for future growth. The completion of ₹4,000 crore (~US$ 525 million) worth capital infusion into its renewables business, one of the biggest value unlocks in renewable business globally, will enable Tata Power to fuel the next leg of growth.