Tata Power reports 5 pc increase in Q1 revenue at Rs 7,567 crore

Tata Power has said its revenue moved up by 5 per cent at Rs 7,567 crore during April to June as compared to Rs 7,199 crore in first fiscal quarter of last year due to higher generation in Mundra, favourable regulatory order in Maithon and new capacity addition in renewables.

Q1 FY20 consolidated profit after tax before exceptional items stood at Rs 254 crore as compared to Rs 252 crore due to lower losses in Mundra on account of lower freight-on-board price of coal and steady operational performance across all segments.

Consolidated profit after tax stood at Rs 231 crore as compared to Rs 1,735 crore in Q1 FY20 mainly due to one-time exceptional item pertaining to sale of non-core investment in previous year quarter.

"During the quarter, all our business clusters have reported robust performance despite sectoral challenges," said CEO and Managing Director Praveer Sinha.

"Moving forward, the key growth areas identified for the company include renewables, transmission, distribution and value-added businesses including rooftop solar, electric vehicle charging stations, smart metering and micro grids in rural areas," he said in a statement

On standalone basis, the revenue stood at Rs 1,854 crore in Q1 FY20 as against Rs 1,894 crore in the previous year quarter due to lower fuel cost in the regulated business.

Earnings before interest, tax, depreciation and amortisation (EBITDA) totalled Rs 983 crore compared to Rs 825 crore in the corresponding quarter last year.

Standalone profit after tax before exceptional items was Rs 320 crore, up by 57 per cent as compared to Rs 204 crore in Q1 FY19 due to higher dividends from subsidiaries. Profit after tax stood at Rs 297 crore as compared to Rs 1,134 crore in corresponding period last year.