India’s largest private power utility, Tata Power declared an 18% rise in its revenue on a year-on-year (YoY) basis as per the results it submitted on October 28, 2021. The revenue from operations rose to Rs. 9810.2 crores from Rs 8,289 crores YoY.
The company recorded a consolidated net profit of Rs. 421.5 crores, up 51% YoY. The transmission and distribution segment (T&D), recorded a 48% jump in revenue to Rs. 6787.4 crores.
However, the thermal power generation business was affected as an impact of the coal shortage that our nation faces. Consequently, the revenue for this segment fell by 36% to Rs. 2216.9 crores YoY.
The renewable energy segment nonetheless saw revenues come in at Rs.1494.9 crores, up nearly 35% YoY.
The company had relief on the cost of fuel, which fell nearly 17% YoY. While on the other hand, the cost of power purchased rose a mammoth 61%.
The script closed nearly 3% down at Rs.217.95, contrary to the very strong bull run it had experienced through the month, touching a record high of Rs. 269.7. The stock has surged over 314% in the past year.
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Research Analyst: Bavadharini KS