Tata Power Company (TATAPOWER) Q3 24/25 earnings summary

Executive summary

• Power demand is rising, with a summer peak expected between 265 GW-270 GW, and clean energy initiatives have led to 21 consecutive quarters of PAT growth and robust fundamentals.

• Clean & Green portfolio stands at 43%, targeting 70% by 2030, with SBTi-validated Net Zero by 2045 commitment.

• Consolidated Q3 FY25 revenue was ₹15,391.06 crore, with net profit at ₹1,187.54 crore; Board approved results on February 4, 2025.

• Strong operational performance across generation, renewables, and distribution segments, with significant progress in sustainability.

Financial highlights

• Q3 FY25 revenue at ₹15,391.06 crore, up 1.9% YoY; PAT at ₹1,187.54 crore, up 10.4% YoY; 9M FY25 PAT at ₹3,909 crore, up 30.3% YoY.

• Renewable business EBITDA rose by 38% YoY, with rooftop business revenue exceeding INR 500 crore for the first time in a quarter.

• Net debt stands at ₹44,706 crore; debt to equity is 1.09:1, and net debt to underlying EBITDA is 2.98.

• Consolidated EBITDA margin for Q3 FY25 was 15%, with a net profit margin of 8%.

• Adjusted EPS for 9M FY25 at 10.4.

Outlook and guidance

• Clean energy share targeted at 70% by 2030, with Net Zero by 2045; renewable capacity addition guidance is 2-2.5 GW per year for FY 2026 and FY 2027.

• Rooftop solar business aims to reach 3 million households over three years, averaging 10 lakh installations per year under PM Surya Ghar Yojna.

• Continued capex in renewables, transmission, and cell/module manufacturing.

• Mundra Power Plant supply directive extended to February 28, 2025.