Tata Power’s Revenue Up 28% YoY to ₹425 Billion in FY22

Tata Power recorded revenue of ₹425.76 billion (~$5.53 billion), a 28% year-over-year (YoY) surge from ₹332.39 billion (~$4.31 billion) in the financial year (FY) 2021-22.

Tata Power’s consolidated profit after tax (PAT) amounted to ₹22.98 billion (~$298.51 million), an increase of 61% from ₹14.24 billion (~$184.97 million) in the previous fiscal. It was the tenth consecutive year that Tata Power registered an increase in PAT.

The adjusted Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) increased by 3% to ₹81.92 billion (~$1.06 billion) in FY22, from ₹79.78 billion (~$1.03 billion) in the previous financial year.

Tata Power’s solar engineering, procurement, and construction (EPC) business recorded a 78% growth with a revenue of ₹72.75 billion (~$945.02 million) generated from 1.5 GW of utility-scale solar EPC projects, compared to ₹40.69 billion (~$528.56 million) in FY21.

The company installed 27,500 solar pumps in rural parts of the country, registering a 112.7% increase from 12,928 pumps installed in the previous fiscal.

Q4 Performance

Tata Power recorded revenue of ₹120.85 billion (~$1.56 billion) in the fourth quarter (Q4) ending March 2022, a YoY increase surge of 16% from ₹103.79 billion (~$1.34 billion) in the same quarter of the previous fiscal year.

The company’s profit after tax in Q4 went up 76% to ₹7.75 billion (~$100.67 million) from ₹4.4 billion (~$57.15 million) in the corresponding quarter of the previous year.

The company’s EBITDA for Q4 amounted to ₹22.53 billion (~$292.66 million), a YoY surge of 35% from ₹16.68 billion (~$216.67 million) in the same period of the previous financial year.

Owing to the addition of 707 MW capacity, Tata Power’s renewable portfolio PAT grew by 60% in Q4. Tata Power Solar Systems Ltd (TPSSL) announced the deployment of 4 GW solar cell and module manufacturing capacity at the cost of ₹34 billion (~$441.66 million).

The revenue generated by Tata Power through the rooftop solar division amounted to ₹5.16 billion (~$67.02 million) at the end of Q4.

The company installed over 1,500 public and semi-public electric vehicle charging points across India, with another 550 in various stages of installation.

Tata Power deployed over 13,000 home charging points (private use) and more than 200 bus charging points across the country in FY22.

Last week, Tata Power was awarded a capacity of 600 MW in Solar Energy Corporation of India’s auction to set up 1.2 GW interstate transmission system (ISTS)- connected wind-solar hybrid projects (Tranche-V) across the country.

The company earned a revenue of ₹110.15 billion (~$1.43 billion) in the third quarter (Q3), a 42% YoY increase compared to ₹77.56 billion (~$1 billion) in the same period last year.