Tata Power Ltd on Tuesday recorded a 10 per cent rise, year-on-year (YoY), in its December 2014 quarter (Q3 FY25) profit. During the quarter under review, profit after tax (PAT) moved up 10 per cent to Rs 1,188 crore from Rs 1,076 crore in the year-ago period.
The company's revenue climbed 2 per cent to Rs 15,118 crore in Q3 FY25 as against Rs 14,841 crore in the corresponding period last year. Consolidated EBITDA during the quarter rose 7 per cent to Rs 3,481 crore on the back of solid contributions and operational efficiency across businesses.
Segment-wise, PAT for renewable business in Q3 FY25 grows by 59 per cent to Rs 214 crore (YoY). Clean & green portfolio now stands at 6.7 GW installed and a pipeline of 10 GW, which will take the total portfolio to over 16.7 GW.
The Tata Group firm also said that its entire 4 GW Cell line at the Tirunelveli plant in Tamil Nadu is fully operational now. "Additional 300 MW TOPCon line to be commissioned in Q4FY25. The manufacturing unit reported revenues of more than Rs 1,300 crore, EBITDA of Rs 226 crore, and PAT of Rs 112 crore in Q3 FY25. In the first nine months, the facility has produced more than 2.4 GW of Modules and reported revenues of Rs 3,831 crore, EBITDA of Rs 471 crore and PAT of Rs 231 crore," it stated.
Tata Power said it has advanced its "Ghar Ghar Solar" initiative to Tamil Nadu, building on the success in Rajasthan, Uttar Pradesh, Kerala, and Chhattisgarh. "The rooftop business saw revenue growth of 15 per cent to Rs 509 crore in Q3 FY25 and on a 9-month basis reported revenues of Rs 1,346 crore, up 22 per cent on a YoY basis. It is well poised to achieve a target of 30 lakh installations by 2030 to support PM Surya Ghar Yojana," it said.
The transmission and distribution business reported 7 per cent PAT growth, at Rs 370 crore, in Q3 FY25 YoY.
The quarterly results were announced post-market hours today. Earlier in the day, Tata Power shares settled 2.06 per cent higher at Rs 362.15.