On the strength of greater sales, Tata Power reported on Wednesday an increase in consolidated net profit of nearly 29% to Rs 1,140.97 crore for the June quarter.
According to a BSE filing, the business earned a net profit of Rs 883.54 crore in the same quarter last year.
From Rs 14,638.78 crore a year earlier, total revenue increased to Rs 15,484.71 crore in the quarter under review.
“On the strength of excellent performance across all business clusters, we have generated a PAT (Profit After Tax) rise for the fifteenth consecutive quarter.
Tata Power CEO and MD Praveer Sinha stated in a statement that “this is the result of our effective strategies, operational efficiencies, and execution excellence driven by our committed workforce.”
He also said that we have approximately Rs 12,000 crore in planned capital expenditures for the current fiscal year, which will enable us to lead the transition to green energy and take advantage of expanding prospects in the transmission and distribution industry.
“Tata Power is ideally positioned to provide 24/7 renewable energy solutions. In terms of creating battery storage, pumped hydro projects, and other hybrid solutions, we have made great progress. This will help major companies’ RE100 goal and advance renewable energy options for our C&I customers, he added.
With its subsidiaries and jointly owned organizations, Tata Power, one of India’s major integrated power corporations, has a total installed/managed capacity of 14,319 MW.