Tata Power Q3FY23 PAT jumps 91 pc y-o-y to Rs 1,052 cr

ts consolidated EBITDA jumped by 53% at Rs 2,818 crore against Rs 1,841 crore in Q3 FY22 on account of capacity addition in Renewables and better performance across all businesses, the company said.

Revenue was up by 30% at Rs 14,339 crore compared to Rs 11,015 crore in Q3 FY22. The appreciation was on account of capacity addition in Renewables, higher generation in Thermal plants and higher sales in Distribution Companies, it said.

Highlighting the key aspects of the company’s Q3FY23 performance, Tata Power CEO & MD Dr. Praveer Sinha said: The third quarter saw significant strides in various businesses associated with our Green Energy Platform and Transmission & Distribution (T&D) business. We have committed investments in Renewables and in Odisha Power Distribution and have further strengthened our position in Rooftop Solar and EV charging domains.”

In a press release, the company listed the key business highlights of Q3FY23:· 

• Order pipeline of TPSSL, including third-party projects, stands at 3.9 GW worth Rs 15,440 crore
• TPREL received ‘Letter of Award’ from Tata Power Delhi Distribution Limited (TPDDL) to set up 255 MW Hybrid Project with a green shoe option for another 255 MW
• TPREL received ‘Letter of Award’ from MSEDCL to set up 150 MW solar project in Maharashtra
• TPREL Rooftop Solar (RTS) Business orderbook pipeline stands at Rs1,300+ crore
• Rooftop Solar Business increased channel network to more than 450 partners spread across 275 districts
• Tata Power Solar Systems Limited (TPSSL) launched off-grid solar solutions in West Bengal, Bihar, and Jharkhand. The off-grid solutions provide a combination of high-efficiency solar modules, inverters and batteries and are available in 11 variants ranging from 1 - 10 kW with 5year warranty
• TPREL signed an agreement to set up India’s first group captive solar plant for a large, premium housing society - Vivarea Condominium in Mumbai
• TPSSL installed around 12,000 solar pumps, highest ever execution in a single quarter. Reached a total deployment of more than 93,000 solar pumps; inching towards the 1 lac milestone.
• Tata Power has energized 3,080+ public and captive EV charging points across 493 locations, along with 30,000+ home chargers and 234 bus charging points
• Tata Power announced setting up of 25,000 EV Charging Points by 2025 at Auto Expo 2023
• Tata Power partnered with the Indian Army to set up EV charging points in the Delhi Cantonment
• Total Smart Meter installations cross 5 lakh across Tata Power DISCOMS in Odisha, Delhi and Mumbai
• Tata Power bags LoA worth Rs350 crore for Development of Receiving Substation (RSS) work for BEST Mumbai
• Powerlinks implemented Drone based Image Analytics Portal for monitoring of transmission network
• Mumbai Distribution achieved national benchmark level operation parameters -Billing Efficiency (99.05%), Collection efficiency (>100%), AT&C Loss (0.47%), SAIDI (5.39 mins) and SAIFI (0.40).
• Mumbai Distribution granted patent for Network management application SPINe-Spatial Patrolling Interface for sustained reliability network and enhanced customer services
• Jojobera Thermal Power Station won Best Water Efficient Plant in <500 MW CPP category by Council of Enviro Excellence
• Prayagraj Power Generation Company Limited (PPGCL) received NABL accreditation
• Tata Power signed up for Japan's MUFG's Sustainable Trade Finance Facility to expand its clean and green energy portfolio
• Tata Power Trading and 75F Smart Innovations India joined hands to promote Automation and Energy-Efficiency Solutions for the Indian Commercial Buildings segment
• Tata Power signed up for Japan's MUFG's Sustainable Trade Finance Facility to expand its clean and green energy portfolio
• Tata Power Trading and 75F Smart Innovations India joined hands to promote Automation and Energy-Efficiency Solutions for the Indian Commercial Buildings segment
• On 03rd Jan, CERC passed favorable order to compensate adverse financial impact to Tata Power's Mundra Plant for power supplied under MoP directions and accordingly the Company has recognized revenue
• IEL Kalinganagar commissioned 67.5 MW Waste Heat Unit
• Mumbai Distribution to install India’s first-of-its-kind underground submersible substation in Mumbai
• The company improved its CDP Climate Change rating from C in 2021 to B in 2022