Tata Power Q4 FY22 PAT surges by 76% to Rs 775cr

Tata Power Q4 FY22 results : Tata Power has reported a 76% jump in its profit after tax (PAT) before exceptional items for the quarter ended 31 March 2022 (Q4 FY22) to INR 775 crores, compared to INR 440 crores in the same period in the previous fiscal year.

According to the Indian power company, this is the 10th consecutive quarter that has seen growth in profit after tax.

Tata Power earned revenue of INR 12,085 crores in Q4 FY22, which is a 16% increase, compared to INR 10,379 crores in Q4 FY21.

Its renewable portfolio profit after tax surged by 60% in Q4 FY22 compared to Q4 FY21 driven by the addition of 707MW capacity in FY22.

For the fiscal year 2022 (FY22), the Indian electric utility company reported INR 2,298 crores in profit after tax before exceptional items, which is a 61% growth compared to INR 1,424 crores in FY21.

Tata Power FY22 revenue was INR 42,576 crores, an increase of 28%, compared to INR 33,239 crores in FY21.

Tata Power Q4 FY22 results : Indian power company reports profit after tax of Rs 775 crores. Photo courtesy of Ameyajkamat/Wikimedia Commons.

Dr. Praveer Sinha — CEO and Managing Director of Tata Power said: “We ended FY22 on a high note, with our 10th consecutive quarter of PAT growth, fueled by broad-based growth across all our business clusters comprising Generation, Transmission, Distribution including Odisha and Renewables. Our proven track record in the renewable energy space has attracted reputed global investors (BlackRock Real Assets and Mubadala) to join us in speeding up India’s transition to green energy.

“We are significantly contributing towards the country’s growing energy needs and shall continue with our growth trajectory going forward, ensuring consistent value to all our stakeholders. We are well poised to manage the increasing energy demand due to extreme weather patterns through optimal generation, efficient transmission and distribution complemented by robust renewable energy growth.”

Earlier this year, the company’s subsidiary Tata Power Solar Systems entered into a partnership with the State Bank of India (SBI) to launch a dedicated centralized processing cell called Surya Shakti Cell for financing solar projects.

Dr. Praveer Sinha, India, Tata Power