Tata Power Company’s Q2 net profit jumps ~6% to ₹927 Crore

31 Oct 2024 , 03:44 PM

On Wednesday (October 30), Tata Power Company Ltd reported a 5.8% YoY rise in net profit at ₹926.5 Crore for the second quarter ending September 30, 2024. In the previous quarter, Tata Power Company reported a net profit of ₹875.5 Crore in a regulatory filing.

Revenue from operations decreased by 0.3% to ₹15,697.7 Crore compared to ₹15,738 Crore in the previous fiscal year.

In the second quarter of this fiscal, EBITDA increased by 21.2% to ₹3,745 Crore, up from ₹3,091 Crore in the previous year.

In the reporting quarter, the EBITDA margin was 23.9%, up from 19.6% in the same period last fiscal year.

Tata Power reported a solar EPC order book of ₹15,900 Crore in Q2. The company’s total installed generation capacity has topped 15 GW, which includes both conventional and renewable sources. Its clean energy portfolio now surpasses 12.9 GW, with 6.4 GW operational and another 6.5 GW in construction.

Tata Power’s transmission network has grown to 7,049 circuit kilometres (Ckm), with 4,633 Ckm commissioned and 2,416 Ckm under development. The company committed over ₹5,200 Crore in capital for Q2 FY25 to promote growth, taking its H1 FY25 capex to ₹9,100 Crore, against a full-year target of around ₹20,000 Crore.

At around closing, Tata Power was trading 3.03% higher at ₹439.95, against the previous close of ₹427 on NSE. 

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