Tata Power Q4 Results: Profit Rises 11.37%, Beats Estimates

Tata Power Co.'s consolidated net profit rose 11.37% in the fourth quarter of financial year 2024, beating analysts' estimates.

The integrated power company's consolidated net profit increased to Rs 1,045.59 crore in the quarter-ended March, according to an exchange filing on Wednesday. Analysts tracked by Bloomberg had set a consensus estimate of Rs 949.6 crore.

• Revenue up 27.24% to Rs 15,846.58 crore versus Rs 12,453.76 crore (Bloomberg estimate: Rs 16,009.31 crore).

• Ebitda up 20.96% to Rs 2,331.83 crore vs Rs 1,927.71 crore (Estimate: Rs 2,787 crore).

• Margin narrows 76 basis points to 14.71% vs 15.47% (Estimate: 17%).

• Net profit up 11.37% to Rs 1,045.59 crore vs Rs 938.81 crore (Estimate: Rs 949.6 crore).

The generation segment saw the highest growth in revenue at 69.6% to Rs 4,855.25 crore. The renewables segment and the transmission and distribution segments saw revenue growth of 34.7% and 8.8%, respectively.

There was also a shift in terms of revenue mix. The transmission and distribution segment, which accounted for 60% of revenue a year ago, accounted for 52% in Q4 FY24. The generation segment saw a huge change, contributing 28% to total revenue in Q4 FY24, as compared with 21% a year ago.

Tata Power's Utility Scale EPC order book stood at Rs 13,385 crore as of Q4 FY24. The business won an order of 100 MW, worth Rs 470 crore, during the quarter.

Around 47% of the current order book is from the Tata Power Group companies, while 25% and 7.5% are from SJVN Ltd. and NTPC Ltd.

Tata Power also won 286 MW of solar rooftop orders in Q4. Its group captive order book stood at Rs 2,095 crore at the end of the quarter, while its third-party rooftop order book stood at Rs 772 crore.

The company also started commercial production from its 4.3 GW solar cell and module manufacturing plant, and produced 1,300 MW of modules during the fourth quarter of fiscal 2024.