Tata Power's Surge: 8% Profit Rise and Solar Leadership

Tata Power reported an 8% rise in net profit to Rs 1,093.08 crore for the September quarter. The increase is attributed to higher revenues across its business segments. CEO Praveer Sinha highlighted sustained growth in power demand and investments, reinforcing Tata Power's position in solar manufacturing.

Tata Power recently announced a nearly 8% increase in net profit, reaching Rs 1,093.08 crore for the September quarter. The profit boost is primarily due to increased revenues, as detailed in a BSE filing. Last year, the net profit for the same period was Rs 1,017.41 crore.

The company's total income witnessed a rise to Rs 16,210.80 crore over the quarter, up from the previous year's Rs 16,029.54 crore. In a statement, Praveer Sinha, CEO of Tata Power, attributed this growth to their focused business segments: Generation, Transmission & Distribution, and Renewables, amid rising power demand in India.

Sinha further highlighted the company's alignment with India's 'Make in India' initiative, particularly the operational success of their 4.3 GW solar manufacturing plant in Tamil Nadu. Tata Power is committed to making substantial investments to bolster India's energy resilience, having already spent Rs 9,100 crore of their planned Rs 20,000 crore Capex for the fiscal year.

(With inputs from agencies.)