Tata Power reported a 91% year-on-year (YoY) rise in its consolidated profit after tax to INR 1,052 crore for the quarter ended December 31, 2022. The company had reported a net profit of INR 551.89 crore in the same quarter of the previous fiscal year. Its consolidated revenue was up 30% to INR 14,339 crore against INR 11,015 crore in Q3FY22 on account of capacity addition in the renewables business, higher generation in thermal plants and higher sales in distribution companies.<\/p>\n\n\n\n
Meanwhile, consolidated EBITDA grew 53% to INR 2,818 crore as compared to INR 1,841 crore in Q3 FY22 on account of better performance across all business verticals.<\/p>\n\n\n\n
“The third quarter saw significant strides in various businesses associated with our Green Energy Platform and Transmission & Distribution (T&D) business. We have committed investments in Renewables and in Odisha Power Distribution and have further strengthened our position in Rooftop Solar and EV charging domains,” said Praveer Sinha, CEO & MD of Tata Power.<\/p>\n\n\n\n
In Q3FY23, the order pipeline of Tata Power Solar, including third-party projects, stands at 3.9 GW worth INR 15,440 crore. During the quarter, Tata Power Renewable Energy (TPREL) received a letter of award from Tata Power Delhi Distribution Limited (TPDDL) to set up a 255 MW Hybrid Project with a green shoe option for another 255 MW. TPREL also received a letter of award from MSEDCL to set up a 150 MW solar project in Maharashtra. Its Rooftop Solar (RTS) business order book pipeline stands at over INR 1,300 crore.<\/p>\n","protected":false},"excerpt":{"rendered":"
Tata Power reported a 91% year-on-year (YoY) rise in its consolidated profit after tax to INR 1,052 crore for the quarter ended December 31, 2022. The company had reported a net profit of INR 551.89 crore in the same quarter of the previous fiscal year. Its consolidated revenue was up 30% to INR 14,339 crore […]<\/p>\n","protected":false},"author":1863,"featured_media":27118,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[392,5746],"tags":[9730,9731,1168],"class_list":["post-140667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings","category-energy-stocks","tag-electricity","tag-power-transmission","tag-renewable-energy"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":141602,"url":"https:\/\/alphastreet.com\/india\/tata-investment-corp-q3fy23-net-profit-declined-by-13-per-cent\/","url_meta":{"origin":140667,"position":0},"title":"Tata Investment Corp Q3FY23 net profit declined by 13 per cent","author":"Chirag Gupta","date":"February 14, 2023","format":false,"excerpt":"Tata Investment Corporation Ltd on Tuesday reported a 12.55 per cent decline in consolidated profit after tax at INR 34.74 crore for the third quarter ended December 31, 2022. 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