Huge leap for Tata Power: Q2FY25 profit surges 51%, driven by solar and e-mobility push!

In a remarkable demonstration of growth and resilience, Tata Power, a major player in India’s energy sector, has reported its highest-ever quarterly profit of ₹1,533 crore for Q2FY25, marking a 51% year-on-year increase. The company also achieved an EBITDA of ₹3,808 crore, a 23% YoY growth, propelled by expanded solar manufacturing and favourable regulatory conditions.

Performance milestones and revenue growth

The quarter ending September 30, 2024, saw Tata Power amass a half-yearly consolidated revenue of ₹32,057 crore, a 5% increase over the same period last year. The net profit of ₹2,721 crore for H1FY25 represents a 41% surge, positioning the company as a leader in India’s energy transition. Dr. Praveer Sinha, CEO and Managing Director, highlighted that the company’s segments across generation, transmission, distribution, and renewables have showcased robust performance.

Advancements in solar energy and green initiatives

Tata Power continues to lead the green energy movement with significant strides in solar infrastructure. The company’s 4.3 GW solar cell and module plant in Tamil Nadu is scaling operations with a new 2 GW production line, set to reach full capacity by November 2024. This push has cemented its status as a solar manufacturing frontrunner.

The rooftop solar segment, a crucial aspect of Tata Power’s strategy, has expanded with installations totalling 222 MW for FY25 to date. This initiative supports the ‘Ghar Ghar Solar, Tata Power Ke Sangh’ campaign, aligned with national energy goals.

Strengthening the power grid and e-mobility

Tata Power’s transmission projects gained momentum with strategic wins valued at ₹7,100 crore, adding 1,607 Ckm to its network. The company’s e-mobility infrastructure has grown to include over 5,675 charging points across 590 cities, reinforcing its commitment to cleaner urban transit.

Expert insights on the power sector’s trajectory

Analysts have noted that Tata Power’s diversified approach positions it strongly amid India’s burgeoning power demands. The company’s investment in renewables and grid modernization aligns with global sustainability trends, with plans like the 1,000 MW Pumped Storage Project in Bhivpuri set to commence in early 2025.