TATA POWER ANNOUNCES Q1 FY 2017-18 RESULTS; REPORTS 126% INCREASE IN CONSOLIDATED PAT AT ₹164 CRORE RENEWABLES PORTFOLIO CONTRIBUTES HIGHER EBITDA OF ₹539 CRORE & PAT OF ₹109 CRORE

Posted by: at 8/14/2017 04:55:00 am


◾ Q1 FY18 Consolidated PAT rose by 126% to ₹164 crores due to strong performance from Coal Companies, Renewable business and overall good operational performance. Q1 FY18 Consolidated Revenue* was up by 2% at ₹6,725 crore mainly due to WREPL revenue.


◾ Q1 FY18 Consolidated EBITDA achieved is ₹2514, which is 40% higher than Q1FY17. Consolidated Operating Profit was up by 16% at ₹1,587 crore as compared to ₹1,363 crore in the corresponding quarter last year, reflecting strong operational performance.


◾ Indonesian Coal Companies, Tata Power Solar, Walwhan Renewable Energy Pvt Ltd. (WREPL), Tata Power Solar and Tata Power Renewable Energy Ltd. (TPREL) reported strong growth and operational performance in Q1 FY18 as compared to Q1 FY17. Other businesses like MPL, TPDDL & others also reported higher profits as compared to corresponding quarter last year.

Editorial Synopsis:

Key Financial Highlights: Q1 FY18 vs Q1 FY17
◾ Consolidated PAT stood at ₹164 crore up by 126% as compared to ₹72 crore
◾ Standalone PAT stood at ₹188 up by 28% as compared to ₹147 crore
◾ Renewable business (Consolidated) PAT stood at ₹109 crore as compared to ₹26 crore
◾ Consolidated Revenue* stood at ₹6,725 crore up by 2% as compared to ₹6,566
◾ Consolidated PAT stood at ₹164 crore up by 126% as compared to ₹72 crore
◾ Standalone Revenue* stood at ₹1,916 up by 9% as compared to ₹1,754 crore

Key Business and Growth Highlights:
◾ Tata Power has been ranked as the Most Respected Company in Infrastructure Sector by Business World


◾ Together with subsidiaries, Tata Power achieved generation of 12,405 MUs of power from all its power plants
◾ Tata Power Solar and Tata Power Renewable Energy Ltd. reported strong operational growth as compared to Q1 FY17
◾ Tata Power's distribution arm TP Ajmer Distribution Limited takes over the distribution area of Ajmer Vidyut Vitran Nigam Limited with effect from 1st July 2017
◾ Tata Power's Renewable capacity crossed 2000 MW and green portfolio crossed 3000 MW mark in Q1FY18
◾ 186 MW Georgia Hydro Project synchronized on 1st & 2nd August 2017 in record time. Stabilization procedures commenced
◾ Tata Power Club Enerji celebrated 10 years of operation in Q1FY18; saved 21 million MUs electricity saved by sensitising 15 million people across the country in the past decade
◾ Tata Power's Strategic Engineering Division (Tata Power SED) wins a prestigious Pilot Project Order from Ministry of Home Affairs for supply of Comprehensive Integrated Border Management System (CIBMS) to Border Security Force (BSF)
◾ Tata Power Skill Development Institute (TPSDI) announced its plan to train over 54,000 people by 2020



National, August 14th, 2017: Tata Power, India’s largest integrated power company, today announced its results for the quarter ended 30th June, 2017, reporting a 126% increase in PAT and 28% increase in standalone PAT as compared to Q1FY17.

PERFORMANCE HIGHLIGHTS: CONSOLIDATED
◾ On a consolidated basis, Tata Power Group’s Q1 FY18 Revenue* was up by 2% at  ₹6,725 crore as compared to ₹6,566 crore last year. This is mainly because of addition of WREPL revenue.
◾ Consolidated PAT stood at ₹164 crore up by 126% as compared to ₹72 crore in Q1 FY17 mainly due to strong performance of the Indonesian coal mines, the renewable business and sustained operations at other Indian companies like MPL, Tata Power Solar, TPDDL, Powerlinks & others.
◾ The Consolidated PAT was also impacted by higher tax provision of about ₹120 crore as compared to Q1 FY17.
◾ The impact of higher coal prices on CGPL was partially offset by MTM gains. The performance was also impacted by lag in notified tariff which will come in subsequent quarters.



PERFORMANCE HIGHLIGHTS: STANDALONE
◾ For the Quarter ended June 30, 2017, Standalone Revenue* stood at ₹1,916 crore up by 9% as against ₹1,754 crore mainly due to Mumbai operations.
◾ Profit from Operations stood at ₹592 crore up by 12% as against ₹526 crore in the corresponding quarter last year.
◾ PAT stood at ₹188 crore, up by 28% as compared to ₹147 crore in corresponding period last year mainly due to



Commenting on the Company’s performance, Mr. Anil Sardana, CEO & Managing Director, Tata Power said, “During the quarter, the Company reported a strong performance by all its businesses, backed by operational excellence. Tata Power Solar, WREPL and Tata Power Renewable Energy have demonstrated excellent performance & reported a significant jump in profits. The Company has significantly increased its green footprint by building its non-fossil fuel capacity beyond 3000 MW.

Despite the challenging environment in the power sector in recent years, the Company has expanded its international presence and continues to look for viable business opportunities across the select international geographies. The Company is continually evaluating opportunities for improvements and integrating them within its operations, execution and growth processes in its endeavour to maximize stakeholder value.”



About Tata Power:

Tata Power is India’s largest integrated power company with a growing international presence. The Company together with its subsidiaries and jointly controlled entities has an installed gross generation capacity of 10613 MW and a presence in all the segments of the power sector viz. Fuel Security and Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. It has successful public-private partnerships in Generation, Transmission and Distribution in India namely “Tata Power Delhi Distribution Limited" with Delhi Vidyut Board for distribution in North Delhi, 'Powerlinks Transmission Ltd.' with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi and 'Maithon Power Ltd.' with Damodar Valley Corporation for a 1050 MW Mega Power Project at Jharkhand. Tata Power is serving more than 2.6 million distribution consumers in India and has developed the country’s first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. It is also one of the largest renewable energy players in India with a clean energy portfolio of 3141 MW. Its international presence includes strategic investments in Indonesia through a 30% stake in the leading coal company PT Kaltim Prima Coal (KPC), 26% stake in mines at PT Baramulti Suksessarana Tbk ("BSSR"); in Singapore through Trust Energy Resources to securitize coal supply and the shipping of coal for its thermal power generation operations; in South Africa through a joint venture called ‘Cennergi’ to develop projects in sub-Sahara Africa; in Zambia through 50:50 joint venture with ZESCO for 120 MW Hydro which has become operational in 2016; in Georgia through AGL which is a joint venture with Clean Energy, Norway & IFC for development of 187 MW hydro project and in Bhutan through a hydro project in partnership with The Royal Government of Bhutan. With its track record of technology leadership, project execution excellence, world class safety processes, customer care and driving green initiatives, Tata Power is poised for a multi-fold growth and committed to 'lighting up lives' for generations to come”.



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