Tata Power, India's largest integrated power company, today announced its results for the quarter ended 31st December 2019.
PERFORMANCE HIGHLIGHTS Q3 FY20: CONSOLIDATED
- Q3 FY20 Consolidated Revenue revenue* stood at Rs. 7,171 crore as compared to Rs. 7,911 crore in the corresponding quarter last year mainly due to deferred tax benefit on PPA extension in Mumbai Licensed area in Q3FY19, lower demand and lower FOB coal price.
- Q3 FY20 PAT stood at Rs. 246 crore as compared to Rs. 220 crore in Q3 FY19 mainly due to lower fuel under recovery in Mundra and better operational performance by all businesses. Q3FY19 includes one-off deferred tax benefit of Rs. 272 Crore on PPA extension in Mumbai Licenses area.
PERFORMANCE HIGHLIGHTS Q3 FY20: STANDALONE
- Standalone revenue* stood at Rs. 1,756 crore as against Rs. 2,119 crore in Q3 FY19 mainly due to deferred tax benefit of Rs. 272 crore on PPA extension in Mumbai Licensed area in the same period last year.
- Standalone PAT for Q3 FY20 stood at Rs. 7 crore as compared to Rs. 271 crore in corresponding quarter last year mainly due to deferred tax benefit of Rs. 272 crore on PPA extension in Mumbai Licensed area in the corresponding period last year.
Commenting on the Company's performance, Mr. Praveer Sinha, CEO & Managing Director, Tata Power said, "All our operations have performed well. We have reported a strong growth trajectory in renewable business and other consumer centric businesses. We are happy to share the recent Public-Private-Partnership (PPP) with CESU which has doubled our customer base to 50 lakhs. We hope to serve Odisha's consumers with 24x7 reliable power and unmatched customer services. Tata Power Solar's order book stands tall at an approximate Rs. 7,700 crore, marking a major business accomplishment for the company. Our collaboration with the Rockefeller Foundation to set up 10,000 micro-grids in India by 2026, is a testament of our commitment to provide affordable, reliable electricity for millions of rural homes and enterprises. Our new consumer-centric businesses including Rooftop solar projects for residential consumers have reached 60 cities with 100 EV charging points across 4 cities. We aim to continue this trend and create smart consumers for tomorrow by providing a range of next-gen power solutions."
*Revenue includes Regulatory income/expense
#Underlying Business EBITDA includes EBITDA of coal companies.
Shares of TATA POWER CO.LTD. was last trading in BSE at Rs.60.9 as compared to the previous close of Rs. 60.7. The total number of shares traded during the day was 244794 in over 996 trades.
The stock hit an intraday high of Rs. 62 and intraday low of 60.35. The net turnover during the day was Rs. 15034143.