Tata Power Q1 Results: PAT zooms 103% to ₹794.60 cr; Revenue increased by 43%. | Daily News Byte

The company, whose operations range from generation to electricity transmission and energy retail, announced a consolidated net profit of ₹391.03 crore in the previous quarter, according to the statement.

Operating income increased by 43% ₹14,495.48 crore, the company said in a BSE filing on Tuesday. Tata Power has listed the income of ₹10,132 crore in the corresponding period of last year.

The company’s EBITDA, or earnings before interest, taxes, depreciation, and amortization is arrived at. ₹2,107 billion compared to ₹2,365 billion in Q1FY22.

In a separate statement, the company said it plans to consolidate capex ₹14,000 crore in 2022-23, including a ₹Investment of 10,000 million kip in the renewable sector.

During this quarter, the company re-evaluated the recovery of tax deductions that did not Has been absorbed and recognized deferred tax assets amount. ₹111 billion.

Tata Power further stated that it has installed a public and semi-public EV charging network of more than 2,350 units with another 1,400 chargers in various stages of installation. It has also installed 18,500 home chargers and 240 bus charging points across India.

Speaking on the June quarter results, Praveer Sinha, MD and CEO of Tata Power, said, “We have started the new fiscal year on a strong note with all our business groups – generation, transmission, distribution, including Odisha, and Renewables – performing very well. This is rightly reflected in our 11th consecutive quarter of PAT growth. We have a strong growth path with a stable long-term cost structure and competitiveness across the business. We provide energy services across the entire value chain and are well-prepared to contribute to India’s green energy transition. As an EaaS company, we are well-prepared with cutting-edge technology and the ability to implement EaaS projects.

Shares of Tata Energy Limited closed down 3.01% at ₹225.50 per NSE today.