Tata Power Q4 profit climbs 31 per cent to Rs 632 crore

Tata Power Company on Friday reported a consolidated net profit of Rs 632 crore for the fourth quarter of 2021-22 as compared to Rs 481 crore recorded in the corresponding period of the previous year, registering a year-on-year growth of 31 per cent.

For the full year 2021-22, the company's net profit surged by 50 per cent to Rs 2,156 crore as compared to Rs 1,439 crore recorded in 2020-21.

The company's consolidated revenue rose by 28 per cent year-on-year to Rs 42,576 crore in 2021-22 from Rs 33,239 crore recorded in the previous financial year.

Commenting on the Company's performance, Praveer Sinha, CEO & Managing Director, Tata Power, said, "We ended FY22 on a high note, with our 10th consecutive quarter of PAT growth, fueled by broad-based growth across all our business clusters comprising Generation, Transmission, Distribution including Odisha and Renewables."

"Our proven track record in the renewable energy space has attracted reputed global investors (BlackRock Real Assets and Mubadala) to join us in speeding up India's transition to green energy," Sinha said.

"We are significantly contributing towards the country's growing energy needs and shall continue with our growth trajectory going forward, ensuring consistent value to all our stakeholders. We are well poised to manage the increasing energy demand due to extreme weather patterns through optimal generation, efficient transmission and distribution complemented by robust renewable energy growth," he added.

( With inputs from ANI )

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