Tata Power (NSE: TATA POWER; BSE: 500400), one of India's largest integrated power companies, with operations across the entire power value chain, today announced its results for Q4 and full year FY23.

With significant growth across all its business verticals, the Company continues to strengthen its position as one of the country's leading green-energy and consumercentric power utilities. Tata Power's PAT has risen for the 14th straight quarter (YoY) and has witnessed significant rise in Consolidated Revenue and EBITDA demonstrating the effectiveness of its business strategy and operational excellence.

Consolidated Quarterly performance highlights: Q4FY23 vs Q4FY22 (YoY)

Consolidated Revenue up by 6% at 12,755 crore vs 12,085 crore in Q4FY22 due to higher sales across Distribution Companies & capacity addition in Renewables Consolidated EBITDA up by 38% at 3,101 crore vs 2,253 crore in Q4FY22 due to lower under recovery in Mundra, capacity addition in Renewables & execution of Solar

EPC projects

Consolidated Reported PAT up by 48 % at 939 crore vs 632 crore in Q4FY22 supported by strong performance across all businesses

Consolidated Full year performance highlights: FY23 vs FY22

Consolidated Revenue growth of 32% at 56,033 crore vs 42,576 crore in FY22 due to higher availability in Mundra Thermal Plant which operated under Ministry of Power (MoP) guidelines, higher sales across distribution companies & robust addition in Renewables portfolio

Consolidated EBITDA grew by 23% at 10,068 crore vs ,192 crore in FY22 on account of lower losses in Mundra Plant and capacity addition in Renewables

Consolidated Reported PAT increase by 77% at ,810 crore vs 2,156 crore in

FY22 due to better performance across all business clusters

Dr. Praveer Sinha, CEO & MD, Tata Power said, 'We are delighted to announce that Tata Power has delivered a strong performance in FY23 with robust growth across all our business clusters - Generation, Transmission, Distribution, and Renewables. The growing need for power has enabled us to keep our momentum strong as we remain committed to meeting the nation's demand with reliable and quality power supply. Our distribution business has performed exceptionally well which is evident from the continuous reduction in AT&C losses in Odisha Discoms and the high performance ratings of our Mumbai, Delhi & Odisha Discoms. Our Renewable Energy business has expanded significantly across EPC, Utility Scale and Rooftop verticals and is well poised to lead India's green energy transition. The completion of 4,000 crore (US$ 525 million) worth capital infusion into our renewables business, one of the biggest value unlocks in renewable business globally, will enable us to fuel the next leg of growth. We have also made rapid strides in our EV charging business and have emerged as the largest network in the country with presence across 350+ cities and towns. Tata Power is rapidly transforming into a new-age sustainable technology oriented and customer-centric green energy solutions company with a healthy mix of regulated and unregulated businesses for future growth.'

About Tata Power

Tata Power (NSE: TATAPOWER; BSE:500400) is one of India's largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed/managed capacity of 14,110 MW. The Company has a presence across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, and trading. The Company developed the country's first Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. With 5,250 MW of clean energy generation from solar, wind, hydro, and waste heat recovery accounting for 37% of the overall portfolio, the company is a leader in clean energy generation. It has successful public-private partnerships in generation, transmission & distribution in India viz: Powerlinks Transmission Ltd. with Power Grid Corporation of India Ltd. for evacuation of Power from the Tala hydro plant in Bhutan to Delhi, Maithon Power Ltd. with Damodar Valley Corporation for a 1,050 MW Mega Power Project at Jharkhand. Tata Power is currently serving more than 12.9 million consumers via its Discoms, under a public-private partnership model viz Tata Power Delhi Distribution Ltd. with the Government of Delhi in North Delhi, TP Northern Odisha Distribution Limited, TP Central Odisha Distribution Limited, TP Western Odisha Distribution Limited, and TP Southern Odisha Distribution Limited with Government of Odisha. With a focus on sustainable and clean energy development, Tata Power is steering the transformation as an integrated solutions provider by looking at new business growth in distributed generation through rooftop solar and microgrids, storage solutions, EV charging infrastructure, ESCO, home automation & smart meters et al. In its 108 years track record of technology advancements, project execution excellence, world-class safety processes, customer care and green initiatives, Tata Power is well poised for multi-fold growth and is committed to lighting up lives for generations to come.

Contact:

Tel: 9902929187

Email: siddharth.kumar@adfactorspr.com

(C) 2023 Electronic News Publishing, source ENP Newswire