Tata Power Q4 Results: Tata Power reported a 15% increase in profit due to strong demand and declared a final dividend of ₹2 per share.

Tata Power Q4 Results: Tata Power reported a combined net profit of ₹895 crore, up around 15% from the previous year.

Tata Power Q4 Results
Tata Power shares Price finished 0.3% down on Wednesday ahead of the report.

On Wednesday, India’s Tata Power reported an increase in fourth-quarter profit, boosted by increased energy demand during heatwaves and rising economic activity in the country.

The company posted a combined net profit of ₹895 crore ($107.2 million), up around 15% from the previous year.

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Analysts predicted that energy corporations such as Tata Power, NTPC, and Power Grid would report steady fourth-quarter profitability as the sector benefited from increased thermal and renewable energy capacity.

Searing heatwaves and an increase in economic activity have led in India’s electricity generation expanding at an average yearly rate of roughly 8% following the epidemic year 2020-21, exceeding power demand growth in every major global economy.

The company’s transmission and distribution division had an 8.80% increase in revenue to ₹9,025 crore, while its generation section climbed by 68%.

Overall revenue from operations increased by 27% to ₹15,847 crore. The business recommended a final dividend of ₹2 per share for FY 2024.

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The company’s expenses increased by 24% to ₹15,691 crore, primarily due to a near-doubling of gasoline costs.

Tata Power’s shares finished 0.3% down on Wednesday ahead of the report. The stock has risen around 18% in the reporting quarter, surpassing the 16.6% growth in the Nifty Energy index.

Tata power Share price

435.45-0.85 (-0.19%) Updated May 8, 2024
Tata Power Q4 Results, Tata Power earnings, Tata Power shares, electricity

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