Tata Power Q3FY25 results: Net profit rises 8% to Rs 1,030.7 crore

Private power producer Tata Power reported an 8.2 per cent rise in its consolidated net profit (attributable to the owners of the company) in the October–December 2024 period, on the back of improved performance.

 

With the rise, Tata Power’s net profit in the quarter stood at Rs 1,030.7 crore, up from Rs 953 crore a year ago. Revenue in the same period rose five per cent to Rs 15,391.1 crore.

 

The company reported an 81 per cent jump in PBDIT to Rs 3,667.6 crore from a year ago. PBDIT is profit before depreciation, interest, and taxation.

 

Sequentially, the company’s net profit rose 11 per cent, while revenue dipped two per cent.

 

The company beat street estimates for profit but missed those for revenue. In a Bloomberg poll, 12 analysts estimated an adjusted net income of Rs 971 crore and revenue of Rs 16,692 crore.

 

Praveer Sinha, chief executive officer and managing director, Tata Power, said, "We have delivered a sustained PAT growth trajectory over the last 21 quarters, and all our businesses have been contributing to this growth."

 

In a call with the media, Sinha noted that the budget announcements around small modular reactors (SMRs) are positive, and Tata Power would be keen to pursue those opportunities while awaiting further details.

 

Tata Power had earlier detailed a Rs 60,000 crore capital expenditure (capex) plan for the next few years. Of that, Sinha noted, Rs 12,000 crore was spent in FY24, another Rs 22,000 crore will be the closing capex for FY25, and the company intends to spend an additional Rs 22,000 crore in FY26.

 

On hydropower plans, Sinha noted that the company is planning another hydropower project in Bhutan but declined to share further details. In November, Tata Power said it had entered into a strategic partnership with Druk Green Power Corporation Ltd (DGPC), a subsidiary of Druk Holding and Investments Limited, the sole generation utility of Bhutan, to collaborate and develop at least 5,000 megawatts (MW) of clean energy generation capacity in Bhutan.