New Delhi, Feb 4 (PTI) – Tata Power has announced a 10% year-on-year increase in its consolidated net profit for the quarter ending December 31, 2024, reaching Rs 1,188 crore. This growth is attributed to higher revenues compared to the previous year’s net profit of Rs 1,076 crore for the same period in 2023, the company stated in a recent report.
The company's total income for the quarter also saw a rise, increasing to Rs 15,793 crore, up from Rs 15,294 crore in Q3 of 2023.
Praveer Sinha, CEO and Managing Director of Tata Power, expressed satisfaction with the company’s performance, highlighting a consistent growth in Profit After Tax (PAT) over the past 21 quarters. "All our business segments have contributed to this growth," Sinha said in the statement.
Looking ahead, Sinha emphasized Tata Power's readiness to seize new opportunities in the evolving energy sector, particularly in nuclear power. "As the government seeks active partnerships with private players, and with recent amendments to the Nuclear Power Act to facilitate the development of nuclear energy, we are eager to explore opportunities in setting up small modular nuclear reactors," he added.
As of December 2024, Tata Power's operational capacity in the clean and green energy sector stood at 6.7 GW, generating over 11,700 MUs of green power. In addition, the company is executing projects that will increase its clean energy capacity by another 10 GW, bringing its total to 16.7 GW.
With a focus on sustainable energy growth, Tata Power continues to position itself as a leader in the renewable energy transition in India.
The company's total income for the quarter also saw a rise, increasing to Rs 15,793 crore, up from Rs 15,294 crore in Q3 of 2023.
Praveer Sinha, CEO and Managing Director of Tata Power, expressed satisfaction with the company’s performance, highlighting a consistent growth in Profit After Tax (PAT) over the past 21 quarters. "All our business segments have contributed to this growth," Sinha said in the statement.
Looking ahead, Sinha emphasized Tata Power's readiness to seize new opportunities in the evolving energy sector, particularly in nuclear power. "As the government seeks active partnerships with private players, and with recent amendments to the Nuclear Power Act to facilitate the development of nuclear energy, we are eager to explore opportunities in setting up small modular nuclear reactors," he added.
As of December 2024, Tata Power's operational capacity in the clean and green energy sector stood at 6.7 GW, generating over 11,700 MUs of green power. In addition, the company is executing projects that will increase its clean energy capacity by another 10 GW, bringing its total to 16.7 GW.
With a focus on sustainable energy growth, Tata Power continues to position itself as a leader in the renewable energy transition in India.
