Tata Power Company Ltd reported a 5.8% rise in its year-on-year (YoY) net profit, reaching ₹926.5 crore for the second quarter ending September 30, 2024, up from ₹875.5 crore in the same period last year, as per the company’s regulatory filing on October 30. Revenue from operations dipped slightly by 0.3%, totaling ₹15,697.7 crore compared to ₹15,738 crore in the previous year’s Q2.
Operating performance showed strong growth, with EBITDA rising 21.2% to ₹3,745 crore, up from ₹3,091 crore a year earlier, while EBITDA margin improved to 23.9%, compared to 19.6% in the same quarter last year.
The solar segment continues to be a key driver, with Tata Power’s solar EPC order book reaching ₹15,900 crore in Q2. The company’s installed generation capacity has now crossed 15 GW, covering both conventional and renewable energy sources. Its clean energy portfolio surpassed 12.9 GW, with 6.4 GW operational and an additional 6.5 GW in development.
Tata Power’s transmission infrastructure expanded to 7,049 circuit kilometers (Ckm), with 4,633 Ckm operational and 2,416 Ckm under construction. Capital expenditure for Q2 FY25 was approximately ₹5,200 crore, bringing total investments for the first half of FY25 to ₹9,100 crore, against a full-year target of ₹20,000 crore.
The company began commercial production at its 4.3 GW solar cell and module manufacturing unit in Tamil Nadu, where a 2 GW solar cell line is operational, and a further 2 GW line is slated for completion next month.
This facility contributed over ₹1,400 crore in revenue, achieving an EBITDA of ₹130 crore and a profit after tax (PAT) of ₹66 crore in Q2. Demand in the rooftop solar segment remained robust, with orders totaling around ₹684 crore and 111 MW of capacity installed in the quarter, reaching 222 MW across the country for the fiscal year.
Tata Power also strengthened its EV infrastructure, installing over 11,500 home chargers in Q2, raising the total installed base to over 1.15 lakh units. The public and semi-public EV charging network expanded to 5,675 points across 590 cities, including more than 1,100 e-bus charging points.
