Tata Power, backed by the Tata Group, achieved double-digit growth in net profit YoY for Q4FY23, but sequentially, the performance was weaker. The company posted a consolidated net profit of ₹938.81 crore, up 48.45% YoY, but down 10.77% QoQ. The bottom line exceeded estimates, but revenue fell short. Additionally, the company announced a 200%, Rs,2 per share dividend for shareholders. Tata Power had a net profit of ₹632.37 crore in Q4FY22, with PAT standing at ₹1,052.14 crore in December 2022 quarter. The Q4 PAT reflected strong growth YoY due to a robust performance across all businesses. Moreover, it marks the 14th quarterly rise in PAT on an annual basis.
The EBITDA for the quarter was ₹3,101 crore, a 38% increase from ₹2,253 crore in the previous quarter, attributable to lower under-recovery in Mundra, capacity addition in Renewables, and the execution of Solar EPC projects.
Tata Power's consolidated revenue from operations for Q4FY23 was ₹12,453.76 crore, up 4.12% from ₹11,959.96 crore in the corresponding quarter of the previous fiscal, due to increased sales across Distribution Companies and capacity addition in Renewables. However, there was an 11.85% decline in performance from revenue of ₹14,129.12 crore reported in Q3FY23.
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SEO title recommendation: Tata Power's Q4FY23 Consolidated PAT Surges by 48.5% to ₹939 Cr with 200% Dividend Declared.
