Tata Power, a leader in India’s energy transition, has posted its 21st consecutive quarter of profit after tax (PAT) growth. For the quarter ending December 31, 2024, the company reported a PAT of ₹1,188 crore, reflecting a 10% year-on-year increase.
Consolidated EBITDA for the quarter grew by 7% to ₹3,481 crore, driven by strong contributions across various business segments and operational efficiencies. For the first nine months of FY25, the company achieved revenue of ₹47,174 crore and a PAT of ₹3,909 crore. EBITDA for the period reached an all-time high of ₹10,639 crore.
Dr Praveer Sinha, CEO and Managing Director of Tata Power, stated, “Our consistent PAT growth over the past 21 quarters underscores the strength of all our business units. We have positioned ourselves as leaders in clean energy, with a comprehensive presence across manufacturing, EPC, and renewable project development, alongside retail supply through group captives. Our operations in Odisha serve as a model for power distribution reforms, and we are exploring similar opportunities in other states. Additionally, our recent successes in large-scale transmission projects solidify our commitment to developing Green Energy Corridors and expanding the nation’s power infrastructure. We are also exploring opportunities in small modular nuclear reactors in response to changes in the Nuclear Power Act.”
As of December 31, 2024, Tata Power’s operational capacity in the clean energy sector stood at 6.7 GW, generating over 11,700 MUs of green power. The company has 10 GW of projects under development, which will raise its clean energy capacity to 16.7 GW.
Tata Power has made significant strides in its clean energy initiatives this quarter, securing key contracts and partnerships to further its sustainability goals. Its solar arm, TP Solar Limited, won a ₹455 crore contract to provide 300 MWp of ALMM modules to Maharashtra State Power Generation Company.
In addition, Tata Power signed a Memorandum of Understanding (MoU) with the Asian Development Bank, securing US$4.25 billion in funding for major clean energy projects. The company also marked a milestone in renewable energy with the commissioning of a 126 MWp floating solar project in Omkareshwar and a 431 MW DC solar plant in Neemuch, which is notable for being the first in India to use single-axis trackers and bifacial modules.
Tata Power Renewable Energy Ltd (TPREL) continued to expand its renewable energy footprint with several significant developments. The company signed a Power Purchase Agreement (PPA) for a 400 MW Hybrid Project with Maharashtra State Electricity Distribution Company Limited (MSEDCL), demonstrating its commitment to scaling up hybrid energy solutions.
Moreover, TPREL entered an MoU with the Odisha Renewable Energy Development Agency to boost rooftop solar adoption as part of the PM Surya Ghar Yojana. TPREL also developed a 13 MW onsite solar power capacity in partnership with Noida International Airport and collaborated with Tata Power Trading Company Ltd. (TPTCL) to supply 10.8 MW of wind power to the airport.
The company has also made significant investments in technology and infrastructure. Tata Power installed nearly 1.6 million smart meters across its distribution operations in Mumbai, Delhi, and Odisha, enhancing operational efficiency. To support the growing electric vehicle (EV) market, Tata Power expanded its EV charging network through collaborations with Tivolt Electric Vehicles and Baaz Bikes, focusing on battery solutions for the National Capital Region. Additionally, TP Central Odisha Distribution Ltd. (TPCODL) launched a new Power Distribution Technology Centre in Bhubaneswar to improve system monitoring and operations, reinforcing Tata Power’s commitment to advancing energy infrastructure.
Tata Power’s initiatives in clean energy, technology, and distribution continue to advance its mission to provide affordable, sustainable power while supporting the country’s renewable energy goals. The company remains committed to achieving carbon neutrality by 2045.
