TATA POWER ANNOUNCES FY2018-19 RESULTS
National, May 3, 2019: Tata Power, India’s largest integrated power company today announced its results for the quarter ended 31st March, 2019.
PERFORMANCE HIGHLIGHTS: CONSOLIDATED
- For the Financial Year ended March 31st 2019:
Tata Power Group’s FY19 Revenue* increased to ₹29,493 crore up 12% as compared to ₹26,430 crore last year mainly due to increase in fuel & power purchase cost related to regulated business, capacity addition in renewable business and good operational performance by businesses.
PAT stood at ₹1109 crore as against ₹1215 crore in previous year largely due to lower realizations from coal companies.
Renewable business crossed ₹428 crore of PAT & 2,549 MW capacity mark. During the year, the Company also added 200 MW.
- For the Quarter ended March 31st, 2019:
Tata Power’s consolidated Revenue* rose to ₹7,574 crore up 6% as compared to ₹7,174 crore in the corresponding quarter last year mainly due to increase in fuel and power purchase cost related to regulated businesses and better operational performance by the businesses.
EBITDA for the quarter was up 35% at ₹1,879 crore as compared to ₹1,391 crore in Q4FY18 mainly due to renewable business and better operational performance by the businesses.
The Company’s PAT before Exceptional Items for the quarter was ₹259 crore as against ₹118 crore.
PERFORMANCE HIGHLIGHTS: STANDALONE
- For the Financial Year ended March 31st 2019:
Revenue* was up 5% at ₹7,688 crore as compared to ₹7,301 crore last year, mainly due to increase in fuel and power purchase cost related to regulated businesses.
PAT for FY 19 was up 154% at ₹1,709 crore as compared to FY18 loss of ₹3,151 crore.
EBITDA for FY 19 stood at ₹2,891 crore as against ₹3,287 crore mainly due to higher dividend in the previous year.
- For the Quarter ended March 31, 2019:
Standalone Revenue* was up by 15% to ₹2,119 crore as against ₹1,836 crore EBITDA stood at ₹696 crore as against ₹858 crore mainly due to higher dividend from subsidiaries in the previous year.
PAT rose to ₹54 crore as compared to a loss of ₹3,939 crore in Q4 FY18.
Commenting on the Company’s performance, Mr. Praveer Sinha, CEO & MD, Tata Power said, “All our subsidiaries and plants have reported robust performance despite sectoral challenges. The Company continues to focus on growth in new businesses. Our renewable business added a capacity of 200 MW and another 400 MW is currently in pipeline. Our solar EPC business possess a healthy order book of ₹1360 crore. We have launched solar roof top solutions in several cities across the country and set up 65 EV charging stations. The Trombay PPA with BEST & TPC-D received an extension of 5 years. Through Resurgent platform, the Company is in the process of acquisition of 1980 MW Prayagraj plant. With regard to CGPL, we are in discussion with various state governments and state discoms and are expecting a resolution for it soon. It will then be submitted to CERC for approval.
It’s been our endeavor to grow our renewable energy footprint across the country and set new benchmarks for operational efficiencies. Moving forward, the key growth areas identified for the Company include renewables, transmission, distribution and value-added businesses including Rooftop Solar, Smart Metering, EV charging stations and Micro grids in rural areas.”
OPERATIONAL HIGHLIGHTS:
The Company continued its robust operations. Standalone Generation for the quarter stood at 12,186 MUs. Mundra reported generation of 7770 MUs, while Maithon plant reported 1839 MUs. Trombay Thermal Power Station generated 1443 MUs, Jojobera Thermal Power Station generated 671 MUs and Haldia reported generation of 211 MUs Industrial Energy Limited reported generation of 746 MUs. TPREL generated 368 MUsthrough clean sources of energy (Solar & Wind) and WREL generated 455 MUs.
AWARDS & RECOGNITIONS:
- The Company was honoured with two awards at the Central Board of Irrigation and Power (CBIP) Awards 2019. While the Company won the ‘Company Category Award’ for Best Performing Utility having integrated operation in Generation, Transmission & Distribution, Mr. Ashok Sethi was felicitated with the ‘Individual Category Award’ for Excellent Contribution in Power Sector Development
- Tata Power won two awards – the ‘Best Risk Management Framework & Systems – Power’ and ‘Business Continuity’ at the 5th Edition of The India Risk Management Awards for working towards creating a robust regulatory compliant business by building a highly efficient risk management team
- The Company was bestowed with two awards at the Global CSR Excellence & Leadership Awards 2019. Tata Power’s environment and resource conservation programme ‘Club Enerji’ won the ‘Cause Branding’ category and its bio-diversity initiative ‘Act for Mahseer’ won the “Awareness Branding” category award.
- Coastal Gujarat Power Ltd (CGPL), a fully owned subsidiary of Tata Power, was bestowed with the ‘APEX India Occupational Health & Safety Excellence Award – 2018’ under the ‘Gold’ category for outstanding achievement in Occupational Health & Safety (OH&S) Management in Thermal Power Sector
- Tata Power bagged two awards at the 58th Annual Association of Business Communicators of India Awards for its excellence in Web Communication for the ‘Act for Mahseer’ initiative and Multimedia CD ROM based presentation for Club Enerji
- TPSDI honoured at the 6th Global Training & Development Leadership Awards for ‘Excellence in Training & Development’ for striving to bridge the skill-gap in the Indian power sector and allied industries while training youth with employable skills
- Tata Power won its first diamond award for “Enerji Talk” under the ‘In-house Journal’ category and bronze award for its website under the ‘Digital Newsletter’ category at the 9th PRCI Excellence Awards 2019
- The Company’s Maithon plant was conferred with a “Suraksha Puraskar” and Haldia plant with a “Prashansa Patra” certificate for prioritizing the well-being of its employees and surrounding communities by simultaneously working towards improving their quality of life.
