Tata Power Co. Ltd. (PTCL) second-quarter consolidated net profit grew 6% year-on-year to ₹926.53 crore.
Consolidated revenue from operations remained almost unchanged at ₹15,697.57 crore compared with ₹15,738.03 crore in the same period last year.
Praveer Sinha, CEO and MD, TPCL said, “Our Generation, Transmission & Distribution, and Renewable businesses continue to witness sustained growth momentum as India sees record power demand and investment in the new age of electricity.”
“All our business segments have performed remarkably well during the quarter leading to 20th consecutive quarterly PAT growth. Aligned with the ‘Make in India’ vision, our 4.3 GW cell-and-module plant in Tamil Nadu is going strength-to-strength with the commissioning of a 2 GW cell production line during the quarter,” he said.
Dr. Sinha said the cell plant will achieve its full capacity by next month, adding the 4.3 GW module plant is already fully operational establishing the company as a leader in solar manufacturing.
“We have made significant strides in the transmission business with major wins in both inter-state and intra-state projects, showcasing our strong project execution capabilities in upgrading grid infra. These projects will help evacuate clean energy from remote renewable sites, to support widescale renewable energy availability,” he said.
“We are mainstreaming the wide-scale adoption of solar rooftops in residential, commercial and industrial segments through our pan-India presence. We are also powering e-mobility in 590 cities, covering private, public, semi-public, and fleet charging,’ he added.
“We are well on track in terms of our planned capex for the financial year, with ₹9,100 crore spent during H1 out of ₹20,000 crore. Our investments in transmission, renewables, and hydro projects are designed to strengthen India’s energy resilience and security,” he further said.
Published – October 30, 2024 08:31 pm IST
