Mumbai, 6th August 2024: Tata Power, one of India’s largest integrated power companies, today reported its financial results for Q1FY25. At ₹ 1,189 Crore, growing 31% YoY, the Company reported its highest ever and 19th consecutive quarter of PAT growth on the back of strong operational performance and execution excellence across all its businesses of Generation, Transmission & Distribution, and Renewables. These businesses contributed 84% of the PAT in Q1FY25 compared to 72% in the same period in FY24. The Company’s Revenue rose 12% YoY to a record high of ₹16,810 Crore, and EBITDA grew 11% to ₹3,350 Crore in the reported quarter.
A solid order pipeline is propelling this all-round business growth. The Company has a clean and green installed capacity of 6.1 GW as of Q1FY25, accounting for 41% of the capacity, with another 5.3 GW under execution. The combined order pipeline for utility-scale EPC and solar rooftop, including group captive, is ~₹ 15,500 Crore. Tata Power is well poised to garner ~20% market share in the residential rooftop segment on the back of its new solar manufacturing facility and a 500+ strong pan-India channel partner network.
The Company is working towards large-scale RTC availability by harnessing the vast potential of hydropower through the development of the 600 MW Khorlochhu power project in Bhutan, and the upcoming 2800 MW pumped hydro storage plants in Maharashtra.
The Odisha distribution business has reduced AT & C losses considerably through enhanced operational efficiency. The four Odisha discoms continue to post robust EBITDA, registering 20% growth in Q1FY25. In Delhi, the Honourable Delhi Electricity Regulatory Commission has recognized regulatory assets worth ₹ 5,788 Crore for Tata Power Delhi Distribution Limited.
The Company’s conventional generation assets continue to cater to the nation’s rising power demand and delivered superior performance with high PLF during the reported quarter.
Consolidated financial performance (in ₹ Crore)
| Particulars | Q1 FY25 | Q1 FY24 | % Change YoY |
| Revenue | 16,810 | 15,003 | 12% |
| EBITDA | 3,350 | 3,005 | 11% |
| *PAT | 1,189 | 906 | 31% |
*Before exceptional items
Dr Praveer Sinha, CEO and Managing Director, Tata Power, said, “We have commenced FY25 on a strong note, which is reflected in the Q1 FY25 results as we book our all-time high and 19th consecutive quarter of PAT growth. All our businesses have grown profitably on the back of operational efficiency, execution excellence, and sustained business momentum.
As we achieve 1 lakh rooftop solar installations across the country, we thank our customers for choosing Tata Power as their green energy partner. With our pan-India campaign, ‘Ghar Ghar Solar Tata Power Ke Sang’, we are powering solar adoption in the country via solar panels manufactured in our newly built 4.3 GW solar module and cell plant in Tamil Nadu.
We have also made significant strides towards advancing sustainable mobility solutions, becoming the first EV charging solutions provider to surpass the installation of 1 lakh home EV chargers. We also have a growing pan-India network of over 5600 public / captive chargers.
Our planned capex for this financial year is Rs 20,000 Crore. We are committed to adopting and leading the new and emerging clean energy technologies, including pumped hydro projects, Hydropower project in Bhutan, and opportunities to develop Small Modular Nuclear Reactors as Government policy evolves.”
Green Energy Transition Fueled by Renewables and Hydro Power
- TPREL and NHPC Renewable Energy Limited inked an MoU for an ambitious solar initiative for government buildings for rooftop solar projects across Central Ministries, States, and Union Territories
- TPREL signed a PPA with SJVN Limited to set up a 460 MW Firm and Dispatchable Renewable Energy (FDRE) project. Also secured a Letter of Award from NTPC for the development of a 200 MW FDRE project
- TP Saurya Limited commissioned a 200 MW Solar Project in Bikaner, Rajasthan
- Tata Power Solar Systems Limited partnered with Indian Bank to drive affordable and widespread residential solar rooftop adoption
- TP Renewable Microgrid partnered with the National Dairy Development Board to solarise the dairy value chain comprising cooperative societies, bulk milk coolers, and milk chilling centres
- TP Renewable signed an MoU with UPNEDA to jointly develop rooftop solar in Uttar Pradesh under UP Government’s initiative to set up 25 lakh rooftop solar in the State
- Tata Power finalizes agreement with Druk Green Power Company to develop 600 MW Khorlochhu Hydro Project in Bhutan; the estimated project cost is ₹6900 Crore
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