Tata Power, India’s leading integrated power company, has reported its 20th consecutive quarter of profit after tax (PAT) growth. For Q2 FY25, the company achieved a record PAT before exceptional items of ₹1,533 crore, marking a 51% year-on-year increase. Consolidated EBITDA also surged by 23% to ₹3,808 crore, attributed to expansion in solar manufacturing, favorable regulatory developments, and operational efficiency across various sectors.During H1 FY25, Tata Power registered its highest-ever revenue, EBITDA, and PAT before exceptional items at ₹32,057 crore, ₹7,158 crore, and ₹2,721 crore, respectively.
Dr. Praveer Sinha, CEO and MD of Tata Power, attributed the continued growth to robust performance in generation, transmission, distribution, and renewable segments. “Our solar manufacturing facility in Tamil Nadu is expanding rapidly. Additionally, our transmission projects and extensive e-mobility network are strengthening India’s energy resilience,” he stated.
Business Developments and Key Initiatives
Solar Manufacturing Expansion
Tata Power’s 4.3 GW solar cell and module facility in Tamil Nadu reached a 2 GW production line, slated to achieve full capacity next month. The plant reported revenue of over ₹1,400 crore, with EBITDA at approximately ₹130 crore in Q2 FY25.
Solar Rooftop Growth
With a healthy order book of ₹684 crore, Tata Power installed 111 MW of rooftop solar capacity in Q2, promoting widespread adoption under its ‘Ghar Ghar Solar’ campaign across states like Rajasthan, UP, Kerala, and Chhattisgarh.
E-Mobility and Charging Infrastructure
Tata Power added 11,500 home chargers, increasing its total to over 1.15 lakh units. Public and semi-public charging points across India reached 5,675, covering 590 cities.
Hydropower and Transmission Investments
Tata Power acquired a 40% stake in Bhutan’s 600 MW Khorlochhu project, and the 1,000 MW Bhivpuri Pumped Storage project gained approvals, with construction set to begin by January 2025.
Credit Rating Upgrade
S&P Global Ratings raised Tata Power’s credit rating to ‘BBB-’ with a positive outlook, reflecting stable cash flows and strong group integration.
Additional Highlights
Tata Power’s transmission business secured contracts worth ₹7,100 crore, adding 1,607 circuit kilometers.New partnerships with banks like ICICI and IndusInd aim to make solar financing more accessible for residential and commercial customers.Tata Power’s Delhi distribution division, TPDDL, received the prestigious 2024 Deming Prize for Total Quality Management (TQM) practices, a first for any Indian utility.
Tata Power’s strategic investments and expansions across renewable energy, transmission, and e-mobility infrastructure underscore its commitment to supporting India’s clean energy goals.
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