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Net Profit after Statutory Appropriations up by 160.47% at Rs 572.65 Crores
Revenue up by 15.82% at Rs 4713.16 Crores
Tata Power, India Largest Integrated Private Power Utility today announced the consolidated financial results for the Quarter ended June 30, 2009 for FY 2009-10.
KEY HIGHLIGHTS:
- Revenues for the quarter were up by 15.82% at Rs. 4713.16 Crores compared to Rs.4069.34 Crores the corresponding period last year.
- On a consolidated basis, the Company reported 160.47% increase in Net Profit After Statutory Appropriations at Rs. 572.65 Crores as compared to 219.85 Crores in the corresponding quarter in the previous year.
- Profit from Operations before Other Income, Interest and Exceptional Items stood at Rs 1004.97 Crores as compared to 545.91 Crores, 84.09% increase over the corresponding quarter last year.
- Profit before Tax, Share of Associates, Minority Interest and Statutory Appropriations registered an increase of 88.25% compared to the corresponding quarter in the previous year.
- On Consolidated Segment-wise performance, Net Revenue for Power business was Rs 3342.97 Crores and Coal Business for Rs 1158.43 Crores as compared to Rs 2888.32 Crores and Rs 1011.84 Crores respectively, during the corresponding periods last year. PBIT for Power Business was Rs 662.41 Crores against Rs 315.36 Crore, 110.05% higher, whereas, PBIT for Coal Business stood at Rs 373.16 Crores as compared to Rs 296.85 Crores, 25.71% higher than the corresponding quarter in the previous year.
- Tata Power has already reported its standalone Revenues for Q1 FY 2009-10 amounted to Rs.2015.62 Crores and Profit after Tax for the quarter of Rs. 377.08 Crores. PAT after Statutory appropriations stood at Rs 396.97 Crores
BUSINESS HIGHLIGHTS:
- North Delhi Power Limited (NDPL):
The Company’s distribution subsidiary and joint venture with Delhi Govt., NDPL posted revenues of Rs. 774.42 Crores during the quarter, a growth of 31.64 % as compared to the previous year of Rs. 588.29 Crores. The net profit stood at Rs. 41.40 Crores during the quarter as compared to Rs. 33.99 Crores in the previous year.
- Powerlinks Transmission Limited (Powerlinks):
Powerlinks, the first public-private joint venture in power transmission in India has earned revenues of Rs. 71.54 Crores as against Rs. 55.57 Crores in the previous year. The Profit after Tax also increased to Rs. 18.62 Crores from Rs. Rs. 9.03 Crores in the previous year.
- Tata Power Trading Company Limited (TPTCL):
TPTCL traded at total of 960 MUs during the quarter as compared to 551 MUs in the previous year, thereby resulting in an increase in its revenues by 68.56% to Rs 696.68 Crores from Rs. 413.31 Crores in the previous year. The Profit after Tax also increased to Rs 1.79 Crores as against Rs. 1.41 Crores in the previous year.
GROWTH PLANS:
The progress on Company’s new projects is as follows:
- 4000 MW, Mundra Ultra Mega Power Project on Fast Track:
4000 MW Mundra Project implementation is progressing as per schedule with Engineering, Procurement and Construction activities in full swing. Overall project progress achieved is 26%.Ordering of all critical items/major packages has been completed.
- 1050 MW Maithon Joint Venture Project:
1050 MW Maithon Power Limited (MPL), a joint venture between the Company (74%) and Damodar Valley Corporation (DVC) (26%), is also progressing well and has achieved 54% completion. The first unit is scheduled to be in operation by October FY11 and second unit by April.
- 120 MW Power Project at Haldia:
The Company has already commissioned Units 1 and 2 of 45 MW each.The 30 MW Unit 3 is under commissioning and is expected to be utilized fully by Q3 FY10.
- Captive Power Projects for Tata Steel:
Industrial Energy Limited (IEL), a joint venture between Tata Power (74%) and Tata Steel (26%) is implementing the following projects:
- 120 MW Power House # 6 for Tata Steel Works, Jamshedpur:
The 120 MW power plant being constructed at Tata Steel works, Jamshedpur for use by Tata Steel was inaugurated in May 2009.
- Unit 5 at Jojobera:
A 120 MW power plant is being constructed at the Company’s existing site at Jojobera. IEL has placed orders for major equipment. The project is expected to be commissioned in the third quarter of FY 10.
About Tata Power:
Tata Power is India's largest private sector power utility with an installed generation capacity of over 2700 MW and a presence in all the segments of the power sector viz Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. The Company has successful public-private partnerships in Generation, Transmission and Distribution - “North Delhi Power 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. It has acquired 30% stake in Coal Companies at Indonesia and is developing the first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. With its track record of technology leadership, customer care and redefining contours of the Indian power sector, Tata Power is poised for a five-fold growth and committed to ‘lighting up lives’ for generations to come.
Disclaimer Statement:Some of the statements in this document, except for the historical information, are forward-looking statements. These forward-looking statements include references to growth projections, plans, strategies, intentions and beliefs concerning our business and operating environment. There are risks, uncertainties and other factors that may cause actual results to differ materially from those projected by these forward-looking statements.
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