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Business Economy


Tata Power Q2 consolidated PAT up by 10 pc& stands at Rs 371 crore

Kolkata, Nov 10 (UNI) Tata Power, India’s largest integrated power company, on Tuesday
reported that Q2 FY21 Consolidated PAT was up by 10 per cent at Rs 371 crore due to all
round performance.
Q2 FY21 Consolidated Revenue was up by 15% at Rs8,413 crore and Q2 Consolidated
EBITDA up by 7% at Rs 2,276 Crore (PYQ Rs 2,124 Crore) mainly due to strong operating performance of all businesses.
The company’s H1 FY21 Consolidated PAT stood at Rs 639 crore up by 10% as compared
to Rs 582 crore over H1 FY20. Consolidated Revenue was up by 1% at Rs 15,084 crore as
compared to Rs 14,896 crore in the H1 FY20.
Commenting on the Company’s performance, Praveer Sinha, CEO & Managing Director,
Tata Power said, “We are glad to report that during the quarter, all our division and subsidiaries
have reported robust performance despite pandemic related challenges. We will continue to
stay focused on our key growth areas of Renewable and Distribution businesses and to
demonstrate benchmark performance of all our existing generation, transmission and
distribution businesses.”
“We believe that our future growth areas Rooftop Solar, EV charging stations, Solar pumps
and Micro grids in rural areas will bring in greater value and help us seamlessly align with the
consumer needs. For Rooftop Solar offerings, we are now present in more than 100 cities in
India. For EV Charging, 203 public charging points have been installed and the geographical
presence of our EV charging network has been increased to 23 cities. Tata Power Solar
booked 347 MW of new solar/hybrid bids; solar EPC order book today and stands at
Rs 8,687 Crore,” Mr sinha said.
“We are working on a long-term strategic plan focused on reducing debt to strengthen our
balance sheet. This plan involves divestment of non-core and certain overseas investments,
along with restructuring of some of our businesses to unlock value and simplify the structure
of the Company,” he said.
“Simultaneously, we are on track to monetise our 2.7 GW in Renewable Energy assets
through a private InvIT. The transfer of assets to the InvIT will allow us to churn capital and
reduce net debt substantially. To further bolster the capital structure, the Promoters have
infused Rs 2,600 crore through preferential allotment which has been used for reducing debt,”
Mr Sinha added.
UNI BM SJC
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