Tata Power announced that its renewable energy business grew to 3,417MW in fiscal 2017-18 as compared to 3,141MW previous year.
The net profit from renewable energy business of Tata Power increased 55 percent to Rs 425 crore.
Tata Power group’s FY18 revenue increased to Rs 28,921 crore (+6 percent) as compared to Rs 27,286 crore last year mainly due to higher generation and sales.
Tata Power posted consolidated profit of Rs 2,679 crore (+144 percent) in fiscal 2017-18 and Rs 1,478 crore with eight-fold growth in Q4.
Operating profit of Tata Power for the quarter rose 18 percent to Rs1,445 crore vs Rs 1,221 crore in Q4 FY17 mainly due to renewable business and all round good performance of all businesses.
EBITDA of Tata Power was up 17 percent at Rs 10,104 crore mainly due to 46 percent increase in renewable business and strong all round performance in both regulated and non-regulated business.
Tata Power Delhi Distribution achieved reduction in AT&C losses at 8.40 percent as against 8.59 percent for the same period last year.
Tata Power’s consumer base crossed 2.6 million mark.
Tata Power’s generation crossed 53,500MUs for the first time in FY18.
Renewable business crossed Rs 425 crore of PAT and 2,349MW capacity mark. During the year, the company also added 276MW.
Tata Power CEO Praveer Sinha said: “The renewable portfolio continues to do well and has once again made a healthy contribution to PAT.”