Tata Power achieves record profit of $512.5m in FY2024

Thanks to the strong performance of its core businesses.

Tata Power saw its highest-ever profit after tax in the financial year ending on 31 March 2024, increasing by 12% year-on-year (YoY) to reach $512.5m (INR4,280 crore) on the back of strong growth from its core businesses.

In a statement, Tata Power also said that it recorded a record-high revenue with a 10% YoY growth to $7.4b (INR 61,542 crore) as the earnings share of its main businesses of generation, transmission & distribution, and renewables reached 74%, from 44% in the previous year.

“The Company reported yet another quarter of stellar results with Q4FY24 being the 18th consecutive quarter of PAT growth,” said Tata Power CEO and Managing Director Praveer Sinha.

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“Today, Tata Power stands at the forefront of India's energy transition with its integrated presence across the value chain. Our clean energy portfolio will touch 15 GW by FY27 and we are committed to supplying round-the-clock renewable energy to our consumers with a mix of solar, wind and Pumped Hydro Storage Projects in our portfolio,” he added.

Its renewable energy portfolio reached 10 GW, including 5.5 GW in the implementation pipeline.

With around 12.5 million consumers, Tata Power holds over 50% market share in the distribution business in the private sector.

$1 = INR83.51

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