Tata Power logs Rs 1,017 crore profit for Q2

Chennai, Nov 9

Integrated power player, Tata Power Company Ltd on Wednesday said it closed the second quarter of FY24 with a consolidated net profit of Rs 1,017 crore.

In a regulatory filing, the company said for the quarter ended September 30, 2023 it had earned an operational revenue of Rs 15,442 crore (Q2FY23 Rs14,163 crore) and a net profit of Rs 1,017 crore (Rs 935 crore).

According to the company, 84 per cent of the profits came from its core business while the contributions from overseas joint ventures, including coal mining operations, continues to decline.

CEO and Managing Director Praveer Sinha said: "We have reported yet another strong quarter of financial performance, driven by robust contribution from all our core business clusters."

“We are constantly focusing on new areas of growth such as our Greenfield solar cell and module manufacturing plant in Tamil Nadu which has produced its first module in this quarter and is on track to roll out the first cell into Q4FY24," Sinha added.