Thursday, Mar 28 2024 | Time 22:12 Hrs(IST)
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Business Economy


Tata Power posts 31 pc rise in Q4 PAT at Rs 632 cr

Mumbai, May 6 (UNI) Tata Power on Friday reported a 31 per cent increase in consolidated net profit for the quarter ended March 31 at Rs 632 crore on the back of higher revenues.
The company had reported a PAT of Rs 481 crore in the corresponding quarter last year.
Its total revenues for the period under review stood at Rs 12085 crore as compared to Rs 10379 crore in Q4 FY2021, registering a growth of 16 per cent.
For the full year, the company registered a 50 per cent increase in consolidated PAT to Rs 2156 crore as against Rs 1439 crore in FY2021.
Similarly, its total revenues rose 28 per cent to Rs 42576 crore in FY2022 from Rs 33239 crore last year.
"We ended FY2022 on a high note, with our 10th consecutive quarter of PAT growth, fueled by broad-based growth across all our business clusters comprising generation, transmission, distribution including Odisha and renewables," Praveer Sinha, CEO and Managing Director, Tata Power said.
He further said that the company is significantly contributing towards the country’s growing energy needs and shall continue with our growth trajectory going forward, ensuring consistent value to all our stakeholders.
"We are well poised to manage the increasing energy demand due to extreme weather patterns through optimal generation, efficient transmission and distribution complemented by robust renewable energy growth," Sinha added.
The company’s net debt to equity ratio stood at 1.5 despite capex undertaken for growth in renewables and T&D businesses through robust working capital management, it added.
UNI PSK SHK1908
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