Web Exclusive | August 2017
Tata Power reports 126 per cent increase in PAT for Q1
Tata Power, India’s largest integrated power company, today announced its results for the quarter ended June 30th, 2017, reporting a 126 per cent increase in PAT and 28 per cent increase in standalone PAT as compared to Q1FY17.
Anil Sardana, CEO & MD, Tata Power said, “The company reported a strong performance by all its businesses, backed by operational excellence. We are continually evaluating opportunities for improvements and integrating them within its operations, execution and growth processes in its endeavour to maximize stakeholder value.”
Performance Highlights: Consolidated
On a consolidated basis, Tata Power Group’s Q1 FY18 Revenue* was up by 2 per cent at Rs 6,725 crore as compared to Rs 6,566 crore last year. This is mainly because of addition of WREPL revenue.
Consolidated PAT stood at Rs 164 crore up by 126 per cent as compared to Rs 72 crore in Q1 FY17 mainly due to strong performance of the Indonesian coal mines, the renewable business and sustained operations at other Indian companies like MPL, Tata Power Solar, TPDDL, Powerlinks & others. The Consolidated PAT was also impacted by higher tax provision of about Rs 120 crore as compared to Q1 FY17.
The impact of higher coal prices on CGPL was partially offset by MTM gains. The performance was also impacted by lag in notified tariff which will come in subsequent quarters.
Performance Highlights: Standalone
For the Quarter ended June 30, 2017, Standalone Revenue* stood at Rs 1,916 crore up by 9 per cent as against Rs 1,754 crore mainly due to Mumbai operations.
Profit from Operations stood at Rs 592 crore up by 12 per cent as against Rs 526 crore in the corresponding quarter last year. While, PAT stood at Rs 188 crore, up by 28 per cent as compared to Rs 147 crore in corresponding period.