Tata Power Q2 Results: Profit Rises 7%, Meets Estimates
Tata Power Co.'s profit rose 7% in the second quarter of fiscal 2025, meeting the consensus estimate shared by analysts.
The power producer's consolidated net profit increased to Rs 1,093 crore in the quarter ended Sept. 30, 2024, according to an exchange filing on Wednesday. That compares with the Rs 1,052-crore consensus estimate of analysts tracked by Bloomberg.
The company's board also approved a Rs 5666 crore investment to set up a 1,000 MW pumped hydro storage project at Bhivpuri, which will be added in 44 months.
Tata Power Q2 Results: Key Highlights (Consolidated, YoY)
Revenue down 0.3% to Rs 15,698 crore. (Bloomberg estimate: Rs 16,957 crore).
Ebitda up 21.2% at Rs 3,745 crore. (Bloomberg estimate: Rs 3,117 crore).
Ebitda margin expanded to 23.9% versus 19.6% (Bloomberg estimate: 18.4%).
Net profit up 7% at Rs 1,093 crore. (Bloomberg estimate: Rs 1,052 crore).
Capacity
As of September 2024, Tata Power's total capacity stands at 15,221 MW, out of which 58% is in thermal energy, while the balance is clean and green capacity. Post the completion of the company's current projects, clean and green will account 59% of the company's total operation share.
Solar Segment
As of Q2FY25, Tata Power's total solar utility scale EPC and group captive order book stands worth Rs 15,264 crore compared to Rs 15,072 crore as of the previous quarter. The company received new orders worth Rs 1,992 crore during the quarter and generated Rs 1,801 crore revenues from the segment.
The company's 3rd party rooftop order book stands at Rs 684 crore compared to Rs 567 crore in Q1. The segment generated revenues of Rs 439 crore during the quarter. The company currently has 13.1% market share in the solar rooftop EPC segment.
As for Tata Power's 4.3 GW solar cell and module manufacturing plant, the company had a daily output of more than 10 GW in July 2024. The 2GW Mono PERC cell line was commissioned in Q2FY25, while the remaining 2GW line will be commissioned in Nov 2024. The 0.3 GW TOPCon line will be commissioned in Q4FY25.
Transmission Segment
As of Q2FY25, Tata Power's net debt has increased sequentially due to higher capex requirements. The company's debt now stands at Rs 43580 crore, compared to Rs 42,467 crore as of Q1. The net debt-to-equity ratio stands at 2.93.
Debt Position
As of Q2FY25, Tata Power's net debt has increased sequentially due to higher capex requirements. The company's debt now stands at Rs 43,580 crore, compared to Rs 42,467 crore as of Q1. The net debt to equity ratio stands at 2.93.
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