Tata Power, India's largest integrated power Company, today announced its results for the quarter ended 30th September, 2021, reporting a 36% increase in consolidated PAT as compared to Q2 FY21.

PERFORMANCE HIGHLIGHTS: CONSOLIDATED

On a consolidated basis, Tata Power Group's Q2 FY22 Revenue was up by 13% at 9,502 crore as compared to 8,428 crore last year. This is mainly due to expanded operations in Odisha DISCOMs, higher project execution in Solar EPC Business and strong business performance by all other businesses Consolidated PAT stood at 506 crore up by 36% as compared to 371 crore in Q2 FY21 due to savings in finance cost & better performance in Renewables Business

PERFORMANCE HIGHLIGHTS: STANDALONE

For the Quarter ended September 30, 2021, Standalone Revenue stood at 1,897 crore as against 1,654 crore, which is an increase of 14.7 %, in the corresponding quarter last year mainly due to higher generation. PAT before exceptional items up by 273% at 541 crore as compared to 145 crore in corresponding period last year mainly due to higher dividend income

Commenting on the Company's performance, Dr. Praveer Sinha, CEO & Managing Director, Tata Power said, 'The robust performance during this quarter is a reflection of our continued focus on our well calibrated business strategy. All our business divisions and subsidiaries have reported strong results. Our consolidated financial performance was exceptionally strong on the back of robust underlying business performance. Our focus continues to remain towards the expansion of our Renewable and Distribution businesses and go green strategy in our existing generation business. We aim to scale up renewable business towards our 2030 target. Clean energy currently makes up 32% of Tata Power's portfolio which is expected to touch 80% by 2030.

Tata Power is committed and aligned with Indian Government's National Electric Mobility Mission Plan (NEMMP) 2020 and FAME II policy which are focused on transforming the e-mobility space of the country. The company has reached a significant milestone of deploying 1000 EV Public charging points across 180 cities in India. Our target is to install EV charger points over a 3,600 km stretch from India's northernmost region of Kashmir to Kanyakumari. We will also continue to strengthen our Solar Pumps, Solaroof and Solar Microgrids businesses across the country.

Statements in this press release describing the Company's performance may be 'forward looking statements' within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company's operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors

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 13,068 MW. The Company has presence across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics and trading. The Company had developed the country's first Ultra Mega Power Project at Mundra (Gujarat) based on supercritical technology. With 4.2 GW of clean energy generation from solar, wind, hydro and waste heat recovery accounting for 32% 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 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 million consumers via its Discoms, under public-private partnership model viz Tata Power Delhi Distribution Ltd. with 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 an integrated solutions providers by looking at new business growth in distributed generation through rooftop solar and micro grids, storage solutions, EV charging infrastructure, ESCO, home automation & smart meters et al. With its 107 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:

Jyoti Kumar Bansal

Email: jyotikumar.bansal@tatapower.com

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