Tata Power Q2 Results Review. | Techno Glob

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Tata Power Co. Ltd. reported another strong quarterly performance in Q2 FY23, driven by a return to profitability of Tata Power Solar Systems, which was profitable in its coal and Mundra businesses. Ltd. and strengthening the capacity of Tata projects and distribution operations.

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

Profit after tax rose 85% YoY to Rs 9.4 billion (Tata Power’s profit was Rs 8.2 billion, up 94% YoY).

According to our calculations, Both QoQ and YoY benefited from the performance of the coal and Mundra businesses, with a bottom-line QoQ recovery of Rs 2.3 billion for Tata Projects, offset by a similar amount of deferred tax charges.

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