Tata Power, an integrated power company, reported its highest ever quarterly profit after tax (PAT) of ₹11.89 billion (~$141.68 million), a growth of 31% year-over-year (YoY), in the first quarter (Q1) of the financial year (FY) 2025.

The company’s generation, renewables, and transmission and distribution sectors contributed 84% of the PAT this quarter, compared to 72% in Q1 FY 2024.

This marks the 19th consecutive quarter of YoY net profit growth for Tata Power.

Tata Power also recorded the highest-ever quarterly revenue of ₹168.1 billion (~$2 billion) in the quarter, a growth of 12% YoY.

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 11% YoY to ₹33.5 billion (~$399.19 million).

As of Q1, Tata Power has an installed clean and green capacity of 6.1 GW, accounting for 41% of its total capacity, with an additional 5.3 GW under execution. The combined order pipeline for utility-scale EPC and rooftop solar, including group captive projects, is around ₹155 billion (~$1.84 billion).

The company is developing approximately 2 GW of Firm and Dispatchable Renewable Energy projects. It aims to increase its clean and green portfolio to over 11 GW, accounting for 56% of its total capacity, within the next 12-24 months.

Tata Power stated that it has crossed 100,000 rooftop solar installations across India.

In addition, the company began solar module production at its newly established 4.3 GW solar module and cell manufacturing plant in Tirunelveli, Tamil Nadu. In its first quarter of operations, the unit produced 600 MW of modules, generating approximately ₹10 billion ($119.16 million) in revenue and a profit of ₹540 million ($6.43 million). Cell production is set to start within the current month.

Tata Power reported its highest annual net profit of ₹42.8 billion (~$512.63 million), a jump of 12% YoY in FY 2024.

Tata Power Solar was the top rooftop solar installer, according to Mercom’s India Solar Market Leaderboard 2024.