Tata Power Q2 Results: Renewables boost profit 85%, revenue 49%
- On October 28, Tata Power Company Ltd. (Tata Power) reported a consolidated profit of Rs 935 crore, up 85% from Rs 506 crore last year.
- The combined profit is somewhat better than the company’s Rs 884 crore profit from the June 2022 quarter.
- The Tata group’s consolidated income from operations jumped 49% to Rs 14,031 crore from Rs 9,810 crore previous year. From Rs 14,495 crore in the previous quarter, consolidated revenues fell 3%.
- Due to improved availability in Mundra, capacity expansion in Renewables, and distribution business efficiency, especially in Odisha Discoms, consolidated EBITDA rose 18% to Rs 2,043 crore from Rs 1,732 crore in Q2FY22.