Tata Power Q4 results: Consolidated net profit rises 54% to Rs 778 crore

Tata Power Company Ltd, on Thursday, reported a 54 per cent rise in its net consolidated profit in the quarter ended March 31, to Rs 778 crore from Rs 503 crore in the same quarter in 2021-22 (FY22). 

The company's board recommended a dividend of Rs 2 per share. 

“The Board has recommended a dividend of Rs 2 per Equity Share of Rs 1 each (@ 200 per cent) to the shareholders for the year ended 31st March 2023,” the company said in a regulatory filing.

The company reported march-quarter consolidated revenue from operations at Rs 12,454 crore. It was Rs 11,960 crore in the last quarter of FY22.

Tata Power stock on Thursday ended flat at Rs 203.80 on BSE.

Transmission and distribution, Tata Power's largest business, reported a 16.4 per cent jump in revenue to Rs 8,295 crore.

"The growing need for power has enabled us to keep our momentum strong as we remain committed to meeting the nation's demand with reliable and quality power supply," Praveer Sinha, Chief Executive Officer & Managing Director of Tata Power, said in the statement.

Distribution business has performed exceptionally well which is evident from the continuous reduction in AT&C (aggregate technical and commercial) losses in Odisha Discoms and the high performance ratings of our Mumbai, Delhi and Odisha Discoms, he stated.

Renewable Energy business has expanded significantly across EPC (engineering procurement construction), utility scale and rooftop verticals and is well poised to lead India's green energy transition, he stated.

The completion of Rs 4,000 crore ($525 million) worth capital infusion into our renewables business, one of the biggest value unlocks in renewable business globally, will enable us to fuel the next leg of growth, he stated.

(With agencies input)