Tata Power Q1 Results
Net profit doubles to Rs 795 cr, revenue up 43%
Tata Power reported a total net profit of Rs 391.03 crore in the previous fiscal year.
Tata Power Q1 Results: Revenue from operations grew 43% to Rs. 14,495.48 crore, according to a BSE filing on Tuesday, July 26, 2022.
Tata Power recorded a 103.2 percent increase in overall net profit to Rs. 794.60 crore in the April-June 2022 quarter, owing mostly to higher sales.
With this, the firm has posted consecutive quarter of profit after tax (PAT) growth, it said in a BSE filing.
According to a BSE filing, this is the company's fourth straight quarter of profit after tax (PAT) growth.
During the same period last year, Tata Power earned Rs. 10,132 crore in revenue.
Shares closed 2.73 percent lower on the BSE at Rs 226.15 a share.
EBITDA, or earnings before interest, taxes, depreciation, and amortisation, came in at Rs. 2,107 crore, down from Rs. 2,365 crore in Q1FY22.
It reviewed the recoverability of unabsorbed tax depreciation and identified Rs. 111 crore in deferred tax assets.
The IT Sector or Information Technology Sector in India is booming. As per reports by IBEF the IT Industry accounts for 8% of India’s GDP.