Tata Power Q3 Results: Profit Rises 8%, Beats Estimates
Revenue rose 5.05% to Rs 15,391 crore in the quarter ended December.
Tata Power Co.'s consolidated net profit rose 8% in the third quarter of the current financial year, beating analysts' estimates.
The power producer's profit increased to Rs 1,031 crore in the quarter ended December, according to an exchange filing on Tuesday. That compares with the Rs 971-crore consensus estimate of analysts tracked by Bloomberg.
Tata Power's installed power capacity stood at 15.56 GW as of December, with over 10 GW of clean and green capacity under construction. The company's operations transmission lines stand at 4,633 circuit kilometres, with 2,414 circuit kilometres under construction.
Tata Power Q3 FY25 Highlights (Consolidated, YoY)
Revenue up 5.05% to Rs 15,391 crore vs Rs 14,651 crore (Bloomberg Estimate: Rs 16,692 crore)
Ebitda up 38.68% to Rs 3,352.5 crore vs Rs 2,417.4 crore (Bloomberg Estimate: Rs 3,079 crore)
Margins expands to at 21.78% vs 16.5% (Bloomberg Estimate: 18.4%)
Net Profit up 8.15% to Rs 1,031 crore versus Rs 953 crore (Bloomberg Estimate: Rs 971 crore)
The company's margins were helped by a modest uptick in revenues as well as an increase in stock in trade at Rs 418.23 crore versus Rs 305 crore a year ago.
The company's bottom line was aided by 35% lower tax expenses on a year-on-year basis.
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Key Updates For Various Business Segments:
Solar Utility Scale EPC
The company's utility-scale EPC order book stood at Rs 13,556 crore versus Rs 15,264 crore last quarter. Q3 revenue stood at Rs 1,079 crore with a revenue reversal of Rs 629 crore due to a change in accounting methodology.
Solar Rooftop Business
Tata Power's rooftop business saw 15% revenue growth to Rs 509 crore in revenue in the December quarter. The company has installed 2.5 GW of rooftop solar and targets 30 lakh installations by 2030. The segment's order book is 21% higher on a sequential basis at Rs 827 crore.
Solar Manufacturing Business
The entirety of Tata Power's 4 GW cell line at the Tirunelveli plant in Tamil Nadu is now fully operational. The company plans to commission an additional 300 MW TOPCon line in Q4FY25.
The manufacturing unit reported revenues of more than Rs 1,300 crore this quarter, with margins over 17% and a net profit of Rs 112 crore in Q3FY25. In 9MFY25, the facility has produced more than 2.4 GW of modules.
Transmission Projects In 2025
Tata Power revealed that 2/3rds of the company's under-construction transmission projects are set to commission in calendar year 2025. Four projects totalling 1653 circuit kilometres are set to commission from March 2025 to December 2025, with an expected revenue of Rs 848 crore.
Renewable Business
The net profit of Tata Power's renewable business saw a 59% annual uptick to Rs 214 crore. The company's installed clean and green portfolio now stands at 6.7 GW, with a pipeline of 10 GW.
Odhisha Discoms
The company's four Odisha Dicoms saw reducing aggregate technical and commercial losses, which promises growth as per the company.
Hydro Projects
The company has two pumped storage hydro plant projects totalling 2800 MW capacity currently under construction. The 1000 MW Bhivpuri project is expected to be completed by August 2028, while the other Shriwata project will be completed by the end of 2020.
The company also noted that construction at the Rs 6,900 crore Khorlochhu hydropower plant has traded, with the expected commissioning date in September 2029.
