Tata Power reports Rs 935 crore profit for Q2 FY2023 | The Financial Express

Tata Power reports Rs 935 crore profit for Q2 FY2023

The company reported revenue of Rs 14,163 crore revenue in Q2 FY2023, up 49%, EBITDA of Rs 2,043 crore, up18 percent and profit after tax (PAT) of Rs 935 crore, up 85 percent respectively.

Tata Power reports Rs 935 crore profit for Q2 FY2023

Tata Power, one of India’s largest integrated power companies, with operations across the entire power value chain – generation, transmission, distribution, renewables and trading has announced its consolidated results for Q2 FY2023.

The company reported revenue of Rs 14,163 crore revenue in Q2 FY2023, up 49%, EBITDA of Rs 2,043 crore, up18 percent and profit after tax (PAT) of Rs 935 crore, up 85 percent respectively. The results mark the 12th consecutive quarter of net profit for the company.

Dr. Praveer Sinha, CEO & MD, Tata Power said, “We have witnessed strong performance from all of our business clusters – generation, transmission, distribution, including Odisha, and renewables. The fact that our PAT has increased for 12th consecutive quarters demonstrates the strong foundations upon which each of these businesses have been built.”

“We are working towards strengthening our presence across the entire Green and Clean Energy value chain. We are building smart, sustainable and customised clean energy products and solutions for our more than 12 million consumers across rural and urban India in order to become the preferred power utility of their choice.”

“Our goals are aligned with the country’s energy priorities, and we will keep working towards accelerating India’s transition to clean energy while putting a sharp focus on the 3 Ds – decarbonisation, digitisation, and decentralisation which are the pillars of the new age energy sector,” added Dr Sinha.

In terms of performance in the electric mobility segment, the company has installed a network of more than 3,000 public and semi-public EV chargers, including more than 450 public EV charging points across 350 national highways. An additional 900-plus chargers in various stages of installation.

Tata Power has also set up more than 23,500 home chargers (for private use) and 240 bus charging points across India.

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First published on: 28-10-2022 at 17:45 IST