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Tata Power on Friday reported a rise of 85 per cent rise in its consolidated net profit to ₹935.18 crore in the September 2022 quarter. The company posted a strong rise in profits mainly on the back of higher revenue.
The consolidated net profit of the company was ₹505.66 crore in the corresponding quarter last fiscal, BSE filing stated.
The total income of the company rose by 39 per cent to ₹14,181.07 crore in the quarter from ₹10,187.33 crore a year ago.
The company’s consolidated EBITDA for the September quarter was up by 18 per cent at ₹2,043 crore as against ₹1,732 crore in the corresponding quarter last fiscal on account of higher availability in Mundra and capacity addition in renewables and higher efficiencies achieved in the distribution business specially in Odisha Discoms
Tata Power’s PAT (profit after tax or net profit) has increased for the 12th consecutive quarter, demonstrating the effectiveness of its business strategy, the company said in a statement.
“We have witnessed a strong performance from all of our business clusters – Generation, Transmission, Distribution, including Odisha, and Renewables. The fact that our PAT has increased for 12th consecutive quarters demonstrates the strong foundations upon which each of these businesses have been built,” Tata Power CEO & MD Praveer Sinha said in the statement.
The company’s scrip was down by 0.40 per cent to ₹225 on BSE.
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John Miller has been writing about science, gaming, and tech culture for over a decade. He’s a top-rated reviewer with extensive experience helping people find the best deals on tech and more.
