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Financial Performance: Tata Power reports a 17th consecutive quarter of profit after tax (PAT) growth, with Q3FY24 PAT reaching Rs. 1,076 crore compared to Rs. 1,052 crore in the corresponding quarter last fiscal. 9MFY24 PAT stands at Rs. 3,235 crore, up from Rs. 2,871 crore in 9MFY23.
Revenue and EBITDA: Revenue for Q3FY24 rose to Rs. 14,841 crore, with EBITDA growing by 15% year-on-year to Rs. 3,250 crore. For 9MFY24, revenue reached an all-time high of Rs. 45,286 crore, with EBITDA at Rs. 9,342 crore.
Renewable Energy Initiatives: Tata Power advances its green energy agenda by developing 2.8 GW Pumped Hydro Storage Projects and facilitating over Rs. 3,500 crore worth of customer financing for solar projects, benefiting over 2,200 C&I customers and residential customers.
Transmission Projects: The company wins projects under the Tariff Based Competitive Bidding process, including the development of an Interstate Transmission System in Rajasthan and an intrastate transmission scheme in Uttar Pradesh.
Clean Energy Portfolio: Tata Power’s operational clean energy capacity stands at 4,270 MW, with another 4,752 MW under execution. The company aims to transition to 70% capacity from non-fossil-based fuels by 2030.
Originally published on Saur Energy
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