Tata Power’s second-quarter results: Net profit increased 7.4% to 1,093 billion rupees, revenue fell slightly

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Tata Power second quarter results: Tata Power Ltd announced its July-September quarter results on Wednesday, October 30. $1,093.08 crore in Q2 FY 2024-25, compared with Rs. $1,017.41 crore in the same period last year, according to Tata Power’s filings with the BSE, as per the consolidated financial statements.

Tata Power Ltd shares closed 0.42% higher $It was 427.15 after Wednesday’s trading session, compared with $The previous market close was 425.35. The company releases second-quarter results after the bell on Wednesday.

Expenses fell 4.55% in the quarter ended September 2024, and the company’s profits rose $14,082.46 Crore, compared to Rs. $14,754.76 million in the same period last year.

The company’s fuel costs also fell by 19.64%, $2,871.69 Crore as at end of Q2 $3,573.62 crore a year ago.

Tata Power’s operating income also fell 0.25% to $15,697.67 crore in the July-September quarter, compared with Rs. $15,738.03 crore in the same period last year.

The company’s hydropower and thermal power generation revenue decreased by 13.35% compared with the same period last year. $4,309.24 crore in the second quarter, compared with Rs. $It was 4,973.22 in the same period last year.

Power transmission and distribution business grew by 7.97% $10,207.10 Crore, compared to Rs. $9,453.43 crore a year ago.

company announcement

The board of directors approved investment in a 1,000 MW pumped storage hydropower project in Biffpuri, Maharashtra, as the company looks to add to existing capacity.

According to the company’s statement, increasing the proposed capacity will take 44 months, or more than three and a half years. The company will provide funding for this $5,666 crore investment, of which 75% is debt and 25% is equity.

The power company also announced that the board of directors has decided to grant 35,26,090 or 35.26 lakh employee stock options (ESOPs) with a face value of Re 1 each, each fully paid up, to eligible employees of Tata Power Limited. The exchange filing comes ahead of the release of second-quarter results on Wednesday.

The company also disclosed a fire incident in a cable warehouse and control room at the Trombay plant, where it has lodged a nearly $The compensation for damages is 2.21 billion rupees.

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