Tata Power, one of India’s largest integrated power companies, has reported its 21st consecutive quarterly profit after tax (PAT) growth for the quarter ended December 31, 2024. The company’s PAT rose by 10% year-on-year (YoY) to ₹1,188 crore, driven by strong operational efficiency and contributions from various business segments.
The consolidated revenue for Q3FY25 increased to ₹15,118 crore, marking a 2% YoY rise, while consolidated EBITDA stood at ₹3,481 crore, reflecting a 7% YoY growth. For the first nine months of FY25, Tata Power recorded ₹47,174 crore in revenue and ₹3,909 crore in PAT (before exceptional items), with EBITDA reaching an all-time high of ₹10,639 crore.
Robust Growth in Renewable Energy Portfolio
Tata Power continues to strengthen its position as a clean energy leader, with its clean & green portfolio reaching 6.7 GW of installed capacity and a project pipeline of 10 GW, which will take its total clean energy portfolio to 16.7 GW.
Solar Manufacturing: Tata Power’s 4 GW Cell line at its Tirunelveli plant in Tamil Nadu is now fully operational, with an additional 300 MW TOPCon line set for commissioning in Q4FY25. The manufacturing unit reported ₹1,300 crore in revenue, ₹226 crore EBITDA, and ₹112 crore PAT in Q3FY25.
Rooftop Solar Expansion: The company has installed 2.5 GW of rooftop solar capacity across India and is advancing its #GharGharSolar initiative into Tamil Nadu. The business reported ₹509 crore revenue in Q3FY25, growing by 15% YoY, and aims to reach 30 lakh installations by 2030 under the PM Surya Ghar Yojana.
International Expansion: Tata Power has partnered with Bhutan’s Druk Green Power Corporation Ltd. (DGPC) to develop 5 GW of clean energy capacity, including 4.5 GW hydro and 500 MW solar projects. The company also facilitated a 50 MW renewable energy supply to Bhutan through Tata Power Trading Company Ltd. (TPTCL), marking the first-ever bilateral cross-border merchant power supply.
Strengthening Power Transmission and Distribution
Tata Power’s Transmission & Distribution (T&D) segment has seen significant growth, reporting ₹370 crore PAT in Q3FY25, up 7% YoY, and ₹1,384 crore PAT for 9MFY25, reflecting 32% YoY growth.
With an investment of ₹3,000+ crore in 9MFY25, the company has won four large transmission projects worth ₹7,100 crore in the past 10 months, reinforcing its expertise in power evacuation and supply. The company targets 10,500 circuit kilometers (Ckm) of transmission capacity by FY30.
Expanding EV Charging Infrastructure
Tata Power continues to lead in sustainable mobility solutions, surpassing a milestone of 1,20,000 home chargers and 1,156 e-bus charging points across the country. The company has also signed MoUs with Tivolt Electric Vehicles and partnered with Baaz Bikes to expand its EV charging and battery solutions.
Key Achievements and Strategic Wins
Solar Manufacturing Contracts: TP Solar Ltd. secured a ₹455 crore contract to supply 300 MWp ALMM modules to Maharashtra State Power Generation Company.
Large-Scale Renewable Projects: Commissioned 126 MWp floating solar project in Omkareshwar and 431 MW DC Solar Plant in Neemuch, Madhya Pradesh.
Power Purchase Agreements (PPA): TPREL signed a 400 MW Hybrid PPA with MSEDCL.
Smart Meter Installations: Achieved ~16 lakh smart meter installations across Mumbai, Delhi, and Odisha.
Global Recognitions: Tata Power-DDL ranked among the Top 10 utilities worldwide in the Smart Grid Index 2024 and became the first global power distribution utility to receive the Deming Award for Total Quality Management in Tokyo, Japan.
Sustainability & Social Initiatives:
Launched ‘Eco Crew’, India’s largest energy literacy movement, reaching 1,000 schools and aiming to educate 5 lakh students on clean energy.
Partnered with National Institute for the Empowerment of Persons with Intellectual Disabilities (NIEPID) and Tata Elxsi to launch ‘E-Sanidhya’, a portal for neurodiverse children’s home care support.
Commenting on the results, Dr. Praveer Sinha, CEO & MD, Tata Power, stated, “We have delivered sustained PAT growth over 21 quarters. Our clean energy leadership spans manufacturing, EPC, and project development, ensuring affordable power supply. With ongoing transmission wins, Discom reforms, and upcoming nuclear energy opportunities, Tata Power is poised for a transformative future.”
With a strategic focus on clean energy, EV infrastructure, and power distribution, Tata Power remains at the forefront of India’s energy transition while maintaining strong financial growth and operational excellence.
