, India

Tata Power profit rises 90% YoY in Q1 FY23

This is the company’s 11th straight profit after tax YoY quarterly growth.

Tata Power recorded a 90% year-on-year (YoY) increase in profit to INR8.8b in the first quarter of the financial year (FY) 2023, the 11th consecutive quarterly profit growth posted by the company.

In a statement, Tata Power said the profit growth was mainly due to the improved performance across all its businesses, mainly profit from coal companies. Its revenue also rose 48% YoY to around INR147.8b. 

“We have started the new fiscal year on a solid note with all of our business clusters - Generation, Transmission, Distribution, including Odisha, and Renewables - performing very well. This is aptly reflected in our 11th consecutive quarter of PAT (profit after tax) growth,” said Tata Power CEO and Managing Director Praveer Sinha.

“We have a robust growth trajectory with stable long-term cost structures and competitiveness across businesses,” he added.

Tata Power said it has commissioned 600 megawatts (MW) of large-scale engineering, procurement, and construction (EPC) projects. It has a strong solar EPC order book reaching around INR146.6b, and winning 1.7 gigawatts projects during the quarter.

READ MORE: Tata Power to invest $380m for solar manufacturing plant dev’t in India

Its total renewable capacity is 5,524MW, of which 3,636MW had been installed and 1,890MW were in various stages of implementation.

For the financial year, it plans an INR140b consolidated capital expenditure, with INR100b in renewables.

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


Indonesia’s new regulation speeds up energy transitions
The government has issued Presidential Regulation No. 112 of 2022 to limit the coal-fired power plants and gradually reduce coal consumption.
What can fix renewable energy’s intermittency?
Solar and wind power are not reliable enough to meet Southeast Asia’s issue on power demand, Enlit Asia’s invitees said.