For the second quarter ended September 2023, Tata Power reported a consolidated net profit of ₹1,017.41 crore, growing 8.79% year-on-year as against ₹935.18 crore last year. During the quarter, 84% of profit came from core businesses, while contributions from foreign joint ventures, including coal mining operations, continued to decline.
Consolidated revenue increased 9% to ₹15,442 crore in Q2FY24 as compared to ₹14,163 crore in Q2FY23.
“The company has maintained its strong financial performance owing to its healthy balance sheet, operational excellence and synergies across business clusters,” Tata Power said in a BSE filing.
At the operational level, earnings before interest, taxes, depreciation and amortization (EBITDA) grew 51% year-on-year to ₹3,087 crore.
Praveer Sinha, CEO and Managing Director, Tata Power, said: “We reported another strong quarter of financial performance driven by the robust contribution of all our core business clusters. Our adherence to financial discipline, operational excellence, and business resilience and diversification has helped us sustain this steady profit growth.”
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