NEW DELHI: Tata Power on Wednesday posted an 11 per cent rise in its consolidated net profit to Rs 1,046 crore in the March quarter in contrast to the year-ago interval primarily on the again of upper revenues. The consolidated profit stood at Rs 939 crore in the quarter ended on March 31, 2023, a BSE submitting confirmed.
Total revenue of the corporate rose to Rs 16.463.94 crore in the quarter from Rs 13,325.30 crore in the identical interval a yr in the past.
The consolidated net profit in the fiscal yr 2023-24 rose to a document Rs 4,280 crore from Rs 3,810 crore in the year-ago interval, the corporate mentioned in a press release. Total revenue elevated to Rs 63,272.32 crore in FY24 from Rs 56,547.10 crore in 2022-23.
According to the assertion the corporate’s market capitalisation has surpassed Rs 1.4 lakh crore..
The 2023-24 fiscal noticed the corporate obtain its highest-ever income and EBITDA at Rs 61,542 crore and Rs 12,701 crore respectively, backed by a powerful rising share from core companies of Generation, Transmission & Distribution and Renewables, which contributed 74 per cent to FY24 PAT in contrast to 44 per cent in FY23.
The Board has really useful a ultimate dividend of Rs 2 per fairness share of Rupee 1 every (@ 200%) for the monetary yr ended March 31, 2024. The firm has mounted the Record Date as Thursday, July 4, 2024, for the aim of cost of dividend.
Praveer Sinha, CEO and Managing Director, Tata Power, mentioned, “Our clean energy portfolio will touch 15 GW by FY27 and we are committed to supplying round-the-clock renewable energy to our consumers with a mix of solar, wind and Pumped Hydro Storage Projects in our portfolio.”
He additional acknowledged that the corporate is well-poised to tackle newer energy distribution alternatives as soon as they open for privatization.
The rooftop photo voltaic enterprise is displaying progress momentum and with a portfolio of over 2 GW, the corporate is well-positioned to faucet the growing alternatives, particularly beneath the PM Surya Ghar Yojana which goals to mild up one crore households, he identified.
Tata Power’s 4.3 GW Cell & Module manufacturing facility in Tirunelveli, Tamil Nadu has commenced manufacturing and commercially produced round 130 MW of Modules in Q4 FY24.
The Company is on an accelerated progress trajectory of transitioning to inexperienced vitality and aiming for round 70 per cent of capability from non-fossil-based fuels by 2030.
As of March 31, 2024, the Company has 4.5 GW of renewable capability operational and one other 5.5 GW of tasks beneath implementation, taking the whole inexperienced vitality portfolio to over 10 GW.
The Company has 6,277 Ckm (Circuit Kms) of transmission strains portfolio together with 1,651 Ckm capability in pipeline.
During FY24, the corporate received two tasks price Rs 2,300 crore beneath Tariff-Based Competitive Bidding (TBCB) course of – the Interstate Transmission System (ISTS) – Bikaner III Neemrana II Transmission Ltd and the Intrastate Transmission Scheme in Uttar Pradesh by SPV Jalpura Khurja Power Transmission Ltd.
Total revenue of the corporate rose to Rs 16.463.94 crore in the quarter from Rs 13,325.30 crore in the identical interval a yr in the past.
The consolidated net profit in the fiscal yr 2023-24 rose to a document Rs 4,280 crore from Rs 3,810 crore in the year-ago interval, the corporate mentioned in a press release. Total revenue elevated to Rs 63,272.32 crore in FY24 from Rs 56,547.10 crore in 2022-23.
According to the assertion the corporate’s market capitalisation has surpassed Rs 1.4 lakh crore..
The 2023-24 fiscal noticed the corporate obtain its highest-ever income and EBITDA at Rs 61,542 crore and Rs 12,701 crore respectively, backed by a powerful rising share from core companies of Generation, Transmission & Distribution and Renewables, which contributed 74 per cent to FY24 PAT in contrast to 44 per cent in FY23.
The Board has really useful a ultimate dividend of Rs 2 per fairness share of Rupee 1 every (@ 200%) for the monetary yr ended March 31, 2024. The firm has mounted the Record Date as Thursday, July 4, 2024, for the aim of cost of dividend.
Praveer Sinha, CEO and Managing Director, Tata Power, mentioned, “Our clean energy portfolio will touch 15 GW by FY27 and we are committed to supplying round-the-clock renewable energy to our consumers with a mix of solar, wind and Pumped Hydro Storage Projects in our portfolio.”
He additional acknowledged that the corporate is well-poised to tackle newer energy distribution alternatives as soon as they open for privatization.
The rooftop photo voltaic enterprise is displaying progress momentum and with a portfolio of over 2 GW, the corporate is well-positioned to faucet the growing alternatives, particularly beneath the PM Surya Ghar Yojana which goals to mild up one crore households, he identified.
Tata Power’s 4.3 GW Cell & Module manufacturing facility in Tirunelveli, Tamil Nadu has commenced manufacturing and commercially produced round 130 MW of Modules in Q4 FY24.
The Company is on an accelerated progress trajectory of transitioning to inexperienced vitality and aiming for round 70 per cent of capability from non-fossil-based fuels by 2030.
As of March 31, 2024, the Company has 4.5 GW of renewable capability operational and one other 5.5 GW of tasks beneath implementation, taking the whole inexperienced vitality portfolio to over 10 GW.
The Company has 6,277 Ckm (Circuit Kms) of transmission strains portfolio together with 1,651 Ckm capability in pipeline.
During FY24, the corporate received two tasks price Rs 2,300 crore beneath Tariff-Based Competitive Bidding (TBCB) course of – the Interstate Transmission System (ISTS) – Bikaner III Neemrana II Transmission Ltd and the Intrastate Transmission Scheme in Uttar Pradesh by SPV Jalpura Khurja Power Transmission Ltd.
