Tata Power Q2 Results | Net profit rises 6% to ₹927 crore; solar segment shines
Tata Power Company Ltd on Wednesday (October 30) reported a 5.8% year-on-year (YoY) increase in net profit at ₹926.5 crore for the second quarter that ended September 30, 2024. In the previous Q2, Tata Power Company posted a net profit of ₹875.5 crore, the company said in a regulatory filing.
Revenue from operations dipped 0.3% to ₹15,697.7 crore against ₹15,738 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA surged 21.2% to ₹3,745 crore in the second quarter of this fiscal over ₹3,091 crore in the year-ago period.
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The EBITDA margin stood at 23.9% in the reporting quarter against 19.6% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
Tata Power reported a solar EPC order book of ₹15,900 crore for Q2. The company’s total installed generation capacity has surpassed 15 GW, encompassing both conventional and renewable sources. Its clean energy portfolio now exceeds 12.9 GW, with 6.4 GW operational and an additional 6.5 GW under construction.
Tata Power’s transmission network has expanded to 7,049 circuit kilometres (Ckm), comprising 4,633 Ckm commissioned and 2,416 Ckm under construction. The company invested around ₹5,200 crore in capex for Q2 FY25 to drive growth, bringing its H1 FY25 capex to ₹9,100 crore, against a full-year target of approximately ₹20,000 crore.
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Tata Power commenced commercial production at its 4.3 GW solar cell and module manufacturing facility in Tamil Nadu, with an initial 2 GW solar cell line, set to increase by another 2 GW next month. During Q2 FY25, the module plant achieved peak production of 20,000 modules daily, contributing over ₹1,400 crore in revenue, with EBITDA of ₹130 crore and PAT of ₹66 crore.
The company’s rooftop solar segment saw strong demand, with a healthy order book of around ₹684 crore and 111 MW of capacity installed in the quarter, totalling 222 MW installed across the country for the fiscal year.
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Additionally, Tata Power expanded its EV infrastructure, deploying over 11,500 home chargers in Q2, bringing its total installed base to over 1.15 lakh. The company’s public and semi-public charging network reached 5,675 points across 590 cities, including over 1,100 e-bus charging points.
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The results came after the close of the market hours. Shares of Tata Power Company Ltd ended at ₹427.15, up by ₹1.80, or 0.42%, on the BSE.
