As a gamut of companies has released their FY 22 Q3 results, some have outdone their estimates, while others have fallen miserably short. Tata Power, a part of the Tata Group, has also released its Quarter 3 Results for the current financial year on Wednesday, 9 February 2022.
Read along to find out more on this!
Key Highlights of the Tata Power Q3 Results
Tata Power has reported a consolidated net profit of Rs. 426 crores in the third quarter of this financial year. In the same quarter of the previous fiscal year, the company reported a consolidated net profit of Rs. 248 crores. The former figure is up by 71% from the latter figure.
Revenue from operations has also risen from the same quarter of last year. Presently, the income from operations for Q3 FY 22 is Rs. 10,913 crores. This figure is up by 44% when compared to Rs. 7,597 crores from Q3 of the financial year 2020-21. This company has seen expanded operations in Odisha and a strong performance by all other businesses.
Tata Power’s consolidated EBITDA rose by 16% to Rs. 2,499 crores in the December quarter of FY 22. For the same quarter of the last financial year, the EBITDA was Rs. 2,149 crores. This rise was due to the higher profit from coal mines.
Tata Power is committed to growth in the following sectors:
Moreover, they also focus on offering green technological solutions to their 12 million-plus customers.
The net profits are up by 71% because of overall business performance. Statements made by the MD of the company revealed that this is the ninth quarter when the company has shown stellar performance by raking up profits.
Frequently Asked Questions
Ans. The share price of Tata Powers on Wednesday rose 1.51% and settled at Rs. 238.40 per share on the National Stock Exchange.
The company’s solar portfolio has reached 900 MW.
Ans. Tata Power has commissioned a project of 100 MW at UP, 50 MW at Pragyaraj and 50 MW at Banda.
Ans. They received orders worth Rs. 538 crores from EESL.
Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.
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