Tata Power Shines with Robust Growth in Renewable Sector
In the June quarter, Tata Power reported an over 6% rise in consolidated net profit, driven by higher revenues from its renewable, transmission, and distribution businesses. The company aims to contribute to India's energy transition with its significant generation portfolio while expanding its distribution footprint in key areas.
- Country:
- India
Tata Power has announced a significant increase in its consolidated net profit, recording a 6% rise to Rs 1,262 crore for the quarter ending June 2024, compared to Rs 1,189 crore in the corresponding period the previous year. This growth is attributed to boosted revenues from its renewable energy and transmission and distribution divisions.
CEO and Managing Director Praveer Sinha highlighted the company's strong start to FY26, emphasizing the outstanding performance across various business sectors. A notable advancement comes from their renewable energy arm, which demonstrates the company's ongoing commitment to innovation and efficiency within the clean energy chain.
With an eye on the future, Tata Power has set its sights on expanding its reach to 40 million customers by 2030, applying for distribution license expansions in Maharashtra. Currently, the company's clean energy generation exceeds 26 GW, with over 65% sourced from renewables, positioning it as a key player in India's energy transition.
(With inputs from agencies.)
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