Tata Power posted a flat profit of Rs 971 crore in the first quarter of FY25 compared to Rs 972 crore a year ago. However, the profit was higher than the estimates of Rs 957 crore.
The revenues jumped 14% to Rs 17,294 crore compared to Rs 15,213 crore in Q1FY24. The revenues were higher than the analysts’ expectations of Rs 16,855 crore.
Generation, transmission & distribution, and renewables contributed 84% of the PAT compared to 72% a year ago, Tata Power said.
Tata Power said it has partnered with Druk Green Power to develop 600 MW Khorlochhu Hydropower Project in Bhutan with a 40% equity investment. The estimated project cost is Rs 6,900 crore.
CEO and MD Praveer Sinha said, “All our businesses have grown profitably on the back of operational efficiency, execution excellence and sustained business momentum. Our planned capex for FY25 is Rs 20,000 crore. We are committed to adopting and leading the new and emerging clean energy tech, including pumped hydro projects, hydropower project in Bhutan, and opportunities to develop small modular nuclear reactors as government policy evolves.”
The company has an installed capacity of 6.1 GW in clean energy as of Q1FY25, accounting for 41% of the capacity, with another 5.3 GW under execution.
The combined order pipeline for utility-scale EPC and solar rooftop, including group captive, is ~Rs 15,500 Crore. Tata Power is well poised to garner ~20% market share in the residential rooftop segment on the back of its new solar manufacturing facility and a over 500 strong pan-India channel partner network, it said.
The Company is working towards large-scale RTC availability by harnessing the vast potential of hydropower through the development of the 600 MW Khorlochhu power project in Bhutan, and the upcoming 2800 MW pumped hydro storage plants in Maharashtra, it said.
The Odisha distribution business has reduced AT&C losses considerably through enhanced operational efficiency. The four Odisha discoms continue to post robust Ebitda, registering a 20% growth in Q1FY25. In Delhi, the Delhi Electricity Regulatory Commission has recognised regulatory assets worth Rs 5,788 crore for Tata Power Delhi Distribution.
In a call with media persons, Sinha said the company will sell some part of power produced in Bhutan in that country and some portion in India.
