Tata Power has recorded INR 61,542 crore of revenue andINR 4,280 crore net profit for the fiscal year ended March 31, 2024.
Tata Power, one of India’s largest integrated power companies, has reported its highest ever net profit (profit after tax) of INR 4,280 crore ($512.64 million) for the financial year ended March 31, 2024. It has maintained strong growth momentum by reporting PAT growth for the 18thconsecutivequarter to INR 1,109 crore for Q4 FY24. The company’s market capitalisation has surpassed INR 1.4 lakh crore.
FY 2024 saw the company achieve its highest-ever revenue and EBITDA at INR 61,542 crore and INR 12,701 crore, respectively, backed by a strong rising share from core businesses of generation, transmission & distribution and renewables, which contributed 74% to FY24 PAT compared to 44% in FY23.
The company’s Board of Directors has recommended a dividend of INR 2 per equity share, subject to shareholders’ approval.
Praveer Sinha, CEO and managing director, Tata Power, said, “Tata Power stands at the forefront of India’s energy transition with its integrated presence across the value chain. Our clean energy portfolio will touch 15 GW by FY27 and we are committed to supplying round-the-clock renewable energy to our consumers with a mix of solar, wind and pumped hydro storage projects in our portfolio.”
Sinha said, Tata Power’s rooftop solar business is displaying growth momentum and with a portfolio of over 2 GW, it is well-positioned to tap the increasing opportunities, especially under the PM Surya Ghar Yojana which aims to light up one crore households.
TataPower’s 4.3 GW solar cell and module manufacturing facility in Tirunelveli, Tamil Nadu, has commenced production and commercially produced around 130 MW of modules in Q4 FY24. The company is listed in the Ministry of New and Renewable Energy’s Approved List of Models and Manufacturers.
Tata Power aims for around 70% of capacity from non-fossil-based fuels by 2030.As of March 31, 2024, the company had 4.5 GW of renewable capacity operational and another 5.5 GW of projects under implementation, taking the total green energy portfolio to over 10 GW.
TataPower Renewable Energy’s (TPREL) utility-scale EPC order book stands at 2.6 GW worth INR 13,400 crore. Rooftop solar and group captive EPC order book stands at INR 2,900 crore.
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