Tata Power Q4 Results: Net Profit Hikes 54% To Rs 778 Crore

Tata Power Company Ltd, on Thursday, announced its fourth-quarter results for the fiscal year 2021-22, reporting a consolidated net profit of Rs 778 crore. This represents a significant increase of 54% compared to the same period last year.

The Company recorded consolidated revenue from operations of Rs 12,454 crore for the March quarter. In the final quarter of FY22, it was Rs 11,960 crore.

On Thursday, the BSE price of Tata Power stock remained unchanged at Rs 203.80.
Tata Power's largest division, transmission and distribution, recorded a 16.4% increase in revenue to Rs 8,295 crore.

The board of the corporation suggested a dividend of Rs 2 per share.

"The Board has recommended a dividend of Rs 2 per Equity Share of Rs 1 each (@ 200 percent) to the shareholders for the year ended 31st March 2023," as per a regulatory filing by the company.

Tata Power's renewable energy portfolio recorded a revenue growth of 37% YoY, driven by the commissioning of new wind and solar projects. The company's total renewable capacity stands at 4,497 MW, with an additional 1,380 MW under construction.

The distribution business also witnessed growth during the quarter, with a revenue increase of 12% YoY. The company's Mumbai distribution business continued to deliver steady results, with a reduction in aggregate technical and commercial losses.