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For the second quarter ended September 2023, Tata Power reported a consolidated net profit of ₹1,017.41 crore, registering a year-on-year growth of 8.79% over ₹935.18 crore last year. During the quarter, 84% contribution in the profit came from the core businesses, while the contributions from overseas JVs, including coal mining operations, continued to decline.
The consolidated revenue grew 9% to ₹15,442 crore in Q2 FY24 compared to ₹14,163 crore in Q2FY23.
“The Company has maintained its strong financial performance on the back of its healthy balance sheet, operational excellence, and synergies across all business clusters,” Tata Power says in a BSE filing.
On the operating front, the earnings before interest, taxes, depreciation and amortisation (EBITDA) surged 51% YoY to ₹3,087 crore.
Praveer Sinha, CEO and Managing Director, Tata Power, says, “We have reported yet another strong quarter of financial performance, driven by robust contribution from all our core business clusters. Our adherence to financial discipline, operational excellence along with business resilience and diversification has helped us in maintaining this consistent profit growth.”
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