Tata Power delivers huge growth in Q1FY23; Consolidated PAT increases 90% at Rs 884 cr

Dr. Praveer Sinha, CEO & MD at Tata Power said, “We have started the new fiscal year on a solid note with all of our business clusters - Generation, Transmission, Distribution, including Odisha, and Renewables - performing very well.

Tata Power delivers huge growth in Q1FY23; Consolidated PAT increases 90% at Rs 884 cr
Tata Power delivers huge growth in Q1FY23; Consolidated PAT increases 90% at Rs 884 cr

New Delhi:  Tata Power one of India’s largest integrated power companies, with operations across the entire power value chain, today announced its results for Q1FY23 reporting a 90% YoY increase in consolidated quarterly PAT as compared to Q1FY22, registering its 11th consecutive year-on-year quarterly growth in PAT.

Quarterly Highlights – Q1FY23

  • Consolidated PAT before Exceptional Items up by 90% at Rs 884 crore vs Rs 466 crore in Q1FY22 (due to improved performance across all businesses mainly profit from Coal Companies)
  • Consolidated Revenue up by 48% at Rs 14,776 crore vs Rs 9,974 crore in Q1FY22
  • Consolidated EBITDA stood at ?2,107 crore vs ?2,365 crore in Q1FY22 (due to favourable regulatory order in Mundra in PY)
  • Standalone PAT up by 19% at Rs 421 crore as compared to Rs 354 crore in Q1FY22 (due to higher dividend income from overseas
  • subsidiary)
  • Standalone EBITDA stood at Rs 1,271 crore as compared to Rs 1,405 crore in Q1FY22 (due to favourable regulatory order in Mundra in PY)

Commenting on the company’s performance, Dr. Praveer Sinha, CEO & MD at Tata Power said, “We have started the new fiscal year on a solid note with all of our business clusters - Generation, Transmission, Distribution, including Odisha, and Renewables - performing very well. This is aptly reflected in our 11th consecutive quarter of PAT growth. We have a robust growth trajectory with stable long-term cost structures and competitiveness across businesses.

We are offering a wide range of energy services across the entire value chain along with cutting-edge technologies and superior project execution capabilities. As a future-ready EaaS Company, we are well poised to contribute towards India's green energy transition.