Rs 17,643 crore order book: This multibagger power company reports stellar quarterly results post signing MoU of 2,800 MW with Government of Maharashtra!
The stock gave multibagger returns of 365 per cent in just 3 years whereas BSE Sensex Index is up by 72 per cent.
Tata Power Company Ltd, a leading power company of India, announced its Quarterly Results and order book ended June 30, 2023. Details Below:
According to the consolidated quarterly results, the net sales increased by 2 per cent to Rs 15,003 crore (due to higher sales across Distribution Companies and capacity addition in renewables), EBITDA increased by 43 per cent to Rs 3,005 crore and the net profit increased by 29 per cent to Rs 1,141 crore in Q1FY24 compared to Q1FY23.
According to the standalone quarterly results, the net sales increased by 70.21 per cent to Rs 5,192.24 crore, the profit before tax increased by 295.96 per cent to Rs 598.55 crore and the profit after tax increased by 214.61 per cent to Rs 446.41 crore in Q1FY24 compared to Q4FY23.
Order Book Updates: The company order book as of June 30, 2023, stands at Rs 17,643 crore and the total capacity as of June 30, 2023, stands at 4,199 MW. The Rooftop Solar and Group Captive Order Book stands at Rs 2,504 crore
Earlier, Tata Power signed an MoU with the Government of Maharashtra to develop 2,800 MW of Pumped Hydro Storage Projects in Pune and Raigad Districts. This collaboration is a major step in our journey towards a clean and green energy future and will support renewable solar and wind projects to ensure a reliable, round-the-clock power supply.
Tata Power Company Ltd is primarily involved in the business of the generation, transmission and distribution of electricity. It aims to produce electricity completely through renewable sources. It also manufactures solar roofs and plans to build 1 lakh EV charging stations by 2025.
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On Thursday, shares of TPL surged 0.96 per cent to Rs 237.15 per share with an intraday high of Rs 241.65 and an intraday low of Rs 234.50. The shares of the company saw a spurt in volume by more than 2.38 times on BSE.
The stock gave multibagger returns of 365 per cent in just 3 years whereas BSE Sensex Index is up by 72 per cent. Investors should keep an eye on this large-cap power stock.
Disclaimer: The article is for informational purposes only and not investment advice.