Tata Power Company Results Earnings Call for Q2FY24
Conference Call with Tata Power Company Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.08-11-2023
08-11-2023
Exclusive | 51% of Tata Power's installed capacity to be green by FY26: CEO MD Praveer Sinha
Sinha also clarified that the company has no plans to invest in any new thermal capacity henceforth.08-11-2023
Q2FY24 Quarterly & H1FY24 Bi-Annual Result Announced for Tata Power Company Ltd.
Electric Utilities company Tata Power Company announced Q2FY24 & H1FY24 results: Financial Performance: - Tata Power reports its 16th consecutive quarter of profit after tax (PAT) growth, with a 9% increase in net profit to Rs 1,017 crore during Q2FY24 compared to the previous year. - The company's consolidated revenue rose by 9% to Rs 15,442 crore during Q2FY24, driven by higher revenue from its core businesses of Generation, Transmission & Distribution. - Q2FY24 EBITDA surges by 51% to Rs 3,087 crore, resulting in an all-time high H1FY24 EBITDA of 6,092 crore. - The balance sheet continues to strengthen, with Net Debt to Underlying EBITDA improving to 2.65x and Net Debt to Equity improving to 1.02x during Q2FY24. - Moody's upgrades Tata Power's corporate family rating to Ba1 with a stable outlook. Business Performance: - 84% of the Company's PAT during Q2FY24 came from core businesses, highlighting strong business fundamentals. - Tata Power achieved a milestone of 5,500 MW in its clean energy portfolio, accounting for 38% of its total installed generation capacity. - Significant progress is made in the Distribution Business, with improved cash flow and reduced AT&C; losses in Odisha. - The first module is produced from the 4.3 GW Cell & Module Greenfield Tamil Nadu manufacturing plant, with the first cell production set to roll out in Q4FY24. - A Memorandum of Understanding is signed with the Maharashtra Government for the development of 2,800 MW Pump Hydro Storage Projects with an investment of approximately 13,000 crore. Sustainability and E-Mobility: - Tata Power continues to drive green energy transition through renewables, with a total renewables capacity of 7,961 MW and an installed capacity of 4,206 MW. - The Company expands its EV charging infrastructure, energizing public EV charging points, bus chargers, and home EV chargers. - Partnerships are formed with the Assam Government, Zoom Cars, Bridgestone, Tata Motors, and others to bolster the EV charging ecosystem. - Tata Power Mumbai Distribution launches an innovative demand response programme for BPCL. - The Company's Transmission & Distribution segment achieves milestones in meter replacements and smart meter installations. Dr. Praveer Sinha, CEO and Managing Director, Tata Power, said, "We have reported yet another strong quarter of financial performance, driven by robust contribution from all our core business clusters. Our adherence to financial discipline and operational excellence along with business resilience and diversification has helped us maintain this consistent profit growth. We are constantly focusing on new areas of growth such as our Greenfield solar cell and module manufacturing plant in Tamil Nadu which has produced its first module this quarter and is on track to roll out the first cell in Q4FY24. We are continually taking significant strides in enabling green energy transition by supplying Round-theClock renewable energy with hybrid solar and wind plants along with Pumped Storage plants.” Result PDF08-11-2023
TATA POWER CO.LTD. - 500400 - Grant Of Stock Options Under 'The Tata Power Company Limited - Employee Stock Option Plan 2023'
Grant of Stock options under ''The Tata Power Company Limited - Employee Stock Option Plan 2023''.08-11-2023
TATA POWER CO.LTD. - 500400 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
We forward herewith for your information a copy of the Press Release issued by the Company on the Audited Standalone and Unaudited Consolidated Financial Results for the quarter and half year ended September 30, 2023.08-11-2023
TATA POWER CO.LTD. - 500400 - Announcement under Regulation 30 (LODR)-Investor Presentation
We forward herewith a presentation that will be made to the Analysts today in connection with Audited Standalone and Unaudited Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2023.08-11-2023
TATA POWER CO.LTD. - 500400 - Announcement under Regulation 30 (LODR)-Change in Management
Change in Company Secretary and Compliance Officer with effect from February 1, 2024.08-11-2023
TATA POWER CO.LTD. - 500400 - Board Meeting Outcome for Outcome Of The Board Meeting - November 8, 2023
Pursuant to Regulations 30, 33 and 52 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, (''Listing Regulations''), we forward herewith the Audited Standalone Financial Results along with Auditor''s Report and Unaudited Consolidated Financial Results along with Limited Review Report of the Company for the quarter and half year ended September 30, 2023, which were approved and taken on record by the Board of Directors of the Company at their meeting held today. The Board Meeting commenced at 2:00 p.m. (IST) and concluded at 3:45 p.m. (IST). The above announcements are also being made available on the Company''s website at www.tatapower.com. The Trading Window for the Company's shares was closed from September 24, 2023 and will open from November 11, 2023.08-11-2023
TATA POWER CO.LTD. - 500400 - Outcome Of The Board Meeting - November 8, 2023
Financial Results for the quarter and half year ended September 30, 2023.08-11-2023
Tata Power Share Price Live blog for 07 Nov 2023
Tata Power stock price went up today, 07 Nov 2023, by 2.04 %. The stock closed at 244.5 per share. The stock is currently trading at 249.5 per share. Investors should monitor Tata Power stock price closely in the coming days and weeks to see how it reacts to the news.07-11-2023