Mumbai: Tata Power, one of the largest integrated utilities in the country, continues its growth momentum, with the Company reporting its 17th consecutive quarter of PAT growth.
Better realisation in the core business segments consisting of Generation, Transmission & Distribution and Renewables, helped the Company grow its Q3FY24 reported PAT to Rs. 1,076 crore as compared to Rs 1,052 crore of the corresponding quarter last fiscal. The 9MFY24 PAT grew to Rs 3235 crore as against Rs 2871 crore for the 9MFY23 PAT. During the October-December 2023 quarter, Tata Power’s revenue rose to Rs 14,841 crore as compared to Rs 14,339 crore in the last financial year. EBITDA for the quarter grew by 15% YoY to Rs 3,250 crore.
For 9MFY24, the Company’s revenue grew to Rs 45,286 crore, an all-time high for said period. At Rs 9,342 crore, the company’s EBITDA for the same period is also at a record high. The contribution of core businesses now stands at 71% for 9MFY24 PAT, compared to 40% in FY23.
The strong momentum in the core business segment also shows the Company’s contribution to the energy transition that the country is witnessing. The Company has been working in various ways, including the development of 2.8 GW Pumped Hydro Storage Projects with an investment of ~ Rs 13,000 crore, to offer firm and 24x7 dispatchable renewable energy to all segments of consumers. (ANI)