Tata Power Q2 Results Review| Roadsleeper.com

Tata Power Q2 Results Review| Roadsleeper.com

BQ Prime’s special research section compiles quality and in-depth equity and financial reports from India’s top brokerages, asset managers and research firms. These reports provide BQ Prime subscribers with an opportunity to expand their understanding of companies, sectors and the economy.

Tata Power Company Ltd. reported another strong quarterly performance in Q2 FY23, boosted by higher profits from coal and Mundra operations, recovery in earnings for Tata Power Solar Systems Ltd. and Tata Projects, and strong performance for distribution businesses.

On a consolidated basis, the company’s reported revenue for the quarter, at Rs 141.5 billion, was up 49% y-o-y, mainly due to higher power sales across discoms and higher revenue from coal operations.

Reported profit after tax rose 85% y-o-y to Rs 9.4 billion (Tata Power’s share of profit was Rs 8.2 billion, up 94% y-o-y).

According to our estimates, the main delta in profits, both QoQ and YoY, came from the performance of Coal and Mundra operations, while the Rs 2.3 billion QoQ recovery in Tata Projects’ bottom line was negated by a similar amount of deferred tax.

Click on the attachment to read the full report:


This report is written by an external party. BQ Prime does not guarantee the accuracy of its contents nor is it responsible for them in any way. The content of this section does not constitute investment advice. For that, you must always consult an expert based on your individual needs. The views expressed in the report are those of the author and do not represent the views of BQ Prime.

Users are not licensed to copy, modify or distribute the content without permission from the original owner.

Source link

Optimized by Optimole