ANNUAL CONSOLIDATED PAT UP BY 144% AT ₹2,679 CRORE; Q4 CONSOLIDATED PAT RECORDED EIGHT-FOLD GROWTH & ROSE TO ₹1478 CRORE; 17% GROWTH IN UNDERLYING BUSINESS EBITDA; RENEWABLE BUSINESS PAT UP 55% AT ₹425 CRORE; ADDED 294 MW OF CAPACITY IN FY18; RECOMMENDS DIVIDEND OF ₹1.30 PER SHARE.
Key Financial Highlights: Q4 FY18 vs Q4 FY17
§ Consolidated PAT rose to ₹1,478 crore mainly due to exceptional gain of ₹1,245 crore and gains in other businesses as compared to loss of ₹227 crore in the corresponding quarter last year.
§ Consolidated Revenue* was up at ₹7,853 crore as compared to ₹6,876 crore in the corresponding quarter last year.
§ Standalone PAT before exceptional loss rose four-fold to ₹391 crore as compared to ₹79 crore in Q4 FY17. PAT after exceptional loss of ₹4,330 stood at a loss of ₹3,939 crore as compared to loss of ₹573 crore in the corresponding quarter last year mainly due to exceptional loss of ₹651 crore relating to Docomo investment.
§ Standalone Revenue* was up 9% at ₹1,836 crore as compared to ₹1,681 crore in the corresponding quarter last year.
Key Financial Highlights: FY18 vs FY17
§ Dividend recommended by Board at ₹1.30 per share.
§ Consolidated PAT was up 144% at ₹2,679 crore mainly due to exceptional gain of ₹1,103 crore and significant increase in renewables business and all round performance across regulated and unregulated businesses as compared to ₹1100 crore.
§ Tata Power consolidated FY18 Revenue* was up 6% at ₹28,921 crore as compared to ₹27,286 crore last year.
§ Standalone PAT was up 23% at ₹1287 before exceptional loss as compared to ₹1049 crore in FY17. Exceptional loss of ₹4437 in FY18 relates to Mundra UMPP and certain other investments.
Key Business and Growth Highlights:
§ Clean Energy portfolio grew to 3,417 MW as compared to 3141 MW last year.
§ Tata Power Delhi Distribution achieved a benchmark reduction in AT&C losses at 8.40% as against – 8.59% for the same period last year.
§ In 2018, Tata Power’s consumer base crossed 2.6 million mark across the country.
§ Tata Power’s generation crosses 53,500 MUs for the first time in FY18.
§ Tata Power’s board approved the sale of its Defense business to Tata Advance Systems Limited, a wholly owned subsidiary of Tata Sons at an enterprise value of ₹2,230 crore subject to Government & other approvals. The Board also approved sale of other non-core investments including Tata Communications and Panatone.
§ The Company reviewed provisions for impairment of its investments in CGPL, Coal mines and other investments leading to provision of ₹4330 crore during the quarter in Standalone results. However, at a consolidated level this gets offset and net gains of ₹1245 crore has been recognized.
National, May 2nd, 2018: Tata Power, India’s largest integrated power company today announced its results for the quarter ended 31st March, 2018.
PERFORMANCE HIGHLIGHTS: CONSOLIDATED
PERFORMANCE HIGHLIGHTS: STANDALONE
Commenting on the Company’s performance, Mr. Praveer Sinha, CEO & Managing Director, Tata Power said, “The Company has registered a strong growth in consolidated PAT. All our subsidiaries and plants have reported robust performance despite challenging circumstances and sectoral challenges. This has been largely due to Company’s relentless focus on operational improvements & excellence. Tata Power Solar has shown excellent performance and turn around and has been a significant contributor to Company’s robust performance. The renewable portfolio continues to do well and has once again made a healthy contribution to PAT. Our Delhi distribution arm, TPDDL also continues to reduce its AT&C losses at benchmark levels. Moreover, the Company has been working on charting its next phase of growth for which monetization of various non-core assets like SED & other cross holdings is underway to improve the balance sheet. We are committed to pursuing a well charted growth strategy by demonstrating a high level of commitment towards cleaner sources of generation.
While CGPL’s under recovery for the quarter and full year has been offset by gains in coal mines to some extent but tangible steps need to be taken by procurers to resolve the viability issue at the earliest.”
The Company continued its robust operations. Standalone Generation for the quarter stood at 12,237 MUs. Mundra reported generation of 26,686 MUs. Maithon plant reported 7,406 MUs. Trombay Thermal Power Station generated 6,294 MUs. Jojobera Thermal Power Station generated 2,978 MUs and Haldia reported generation of 775 MUs. Industrial Energy Limited reported generation of 2,592 MUs, TPREL generated 919 MUs through clean sources of energy (Solar & Wind) and WREL generated 1,688 MUs.
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