Tata Power Q4 net profit rises 15% to ₹895 crore

Tata Power Ltd. reports strong financial growth, plans to expand clean energy portfolio, and recommends dividend to shareholders.

Tata Power Ltd. reported fourth-quarter consolidated net profit rose 15% to ₹895 crore from the year-earlier period. Revenue from operations during the quarter ended March 31, 2024 grew 27% to ₹15,846.58 crore from the same period last year.  For FY24, the company reported net profit of ₹3,696 crore, an increase of 11% from the previous year. Consolidated revenue from operations grew 11.5% to ₹61,449 crore. 

The company’s Board of Directors has recommended a dividend of ₹2 per equity share subject to shareholders approval.

“The company reported yet another quarter of stellar results with Q4 FY24 being the 18th consecutive quarter of PAT growth. The operational and financial performance of all our core businesses – Generation, T&D and Renewables – has been strong and is on a growth path,” Dr. Praveer Sinha, CEO and Managing Director, Tata Power said in a statement.

“Today, Tata Power stands at the forefront of India’s energy transition with its integrated presence across the value chain. 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 added.

“The Odisha discoms have demonstrated the success of the public private partnership model and are now profitable within a short span of three years. We are well-poised to take on newer power distribution opportunities once they open for privatisation,” he further said. He said the rooftop solar business was displaying growth momentum and with a portfolio of over 2 GW, the company was well-positioned to tap the increasing opportunities, especially under the PM Surya Ghar Yojana, which “aims to light up one crore households.”