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Electric Utilities company Tata Power Company announced Q4FY24 & FY24 results:

Financial Highlights:

• FY24 PAT at an all-time high at Rs 4,280 crore
• Consolidated Revenue for FY24 grows 10% to an all-time high of Rs 61,542 crore
• Consolidated EBITDA for FY24 grows 26% to an all-time high of Rs 12,701 crore
• Q4FY24 PAT grows 18% to Rs 1,109 crore
• Q4FY24 Revenue grows 27% to Rs 16,256 crore
• Q4FY24 EBITDA grows 8% to Rs 3,358 crore
• CRISIL Ratings Limited has upgraded the Company’s LongTerm rating on the bank loan and debt facilities from ‘CRISIL AA/Positive’ to ‘CRISIL AA /Stable’ and has reaffirmed its ‘CRISIL A1 ’ rating on the Company’s commercial paper programme and short-term facilities

Dr. Praveer Sinha, CEO and Managing Director, Tata Power, said, " The Company reported yet another quarter of stellar results with Q4FY24 being the 18th consecutive quarter of PAT growth. The operational and financial performance of all our core businesses – Generation, T&D and Renewables - has been strong and is on a growth path.

Today, Tata Power stands at the forefront of India's energy transition with its integrated presence across the value chain. Our clean energy portfolio will touch 15 GW by FY27 and we are committed to supplying round-the-clock renewable energy to our consumers with a mix of solar, wind and Pumped Hydro Storage Projects in our portfolio.

The Odisha Discoms have demonstrated the success of the Public Private Partnership model and are now profitable within a short span of three years. We are well-poised to take on newer power distribution opportunities once they open for privatization.

The rooftop solar business is displaying growth momentum and with a portfolio of over 2 GW, we are well-positioned to tap the increasing opportunities, especially under the PM Surya Ghar Yojana which aims to light up one crore households.

We continue our journey to be the most preferred and trusted green energy solutions provider and utility of choice for every customer.”

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