Q4 Results: Tata Power posts 15% jump in profit on robust demand, declares final dividend of ₹2 per share

The institution reported a consolidated nett net of ₹895 crore ($107.2 million), up astir 15% from past year.

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Analysts had said vigor firms specified arsenic Tata Power, NTPC and Power Grid would apt denote accordant fourth-quarter net arsenic the assemblage stood to summation from expanding thermal and renewable vigor capacity.

Searing heatwaves and an uptick successful economical enactment person resulted successful India's energy procreation increasing astatine an mean of astir 8% annually pursuing the pandemic twelvemonth of 2020-21, outpacing powerfulness request maturation successful each large planetary economy.

The company's transmission and organisation segment, which brings successful the lion's stock of revenue, grew 8.80% to ₹9,025 crore, portion its procreation conception clocked successful a maturation of 68%.

Overall gross from operations climbed 27% to ₹15,847 crore. The institution besides recommended a last dividend of ₹2 per stock for the fiscal twelvemonth 2024.

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Its full expenses roseate astir 24% to ₹15,691 crore, led chiefly by a adjacent two-fold surge successful substance costs.

Shares of Tata Power closed little astatine 0.3% connected Wednesday up of results. The banal has climbed astir 18% successful the reporting quarter, outperforming a 16.6% emergence successful the Nifty Energy index. 

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Published: 08 May 2024, 05:38 PM IST