What helped the profits of Tata Power to nearly double in the first quarter?
Answer
Answer
Tata Power net profits were up 90% at Rs883.54 crore for the June 2022 quarter or the Q1FY23. The profit got a leg up from a 42% growth in total sales revenues at Rs14,639 crore. For the full fiscal year, Tata Power has outlined Rs14,000 crore of capex, and this includes Rs10,000 crore investment in renewables. \
Tata Power in Q1FY23 performed very impressively across generation, transmission, distribution and renewables. Currently, the total renewable capacity of Tata Power stands at an impressive 5,524 MW, which includes an installed capacity of 3,634 MW and 1,890 MW which is currently under implementation.