Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Company-results/  Tata Power’s Q1 renewable portfolio profit jumps 329% to Rs142 crore
BackBack

Tata Power’s Q1 renewable portfolio profit jumps 329% to Rs142 crore

The renewable business capacity of Tata Power crossed 2,000 MW and non-fossil fuel portfolio stood at 3,144 MW, a 92% increase from a year ago

Tata Power will continue to work towards ensuring that its renewable business remains the largest in the country. Photo: Priyanka Parashar/MintPremium
Tata Power will continue to work towards ensuring that its renewable business remains the largest in the country. Photo: Priyanka Parashar/Mint

New Delhi: Tata Power on Wednesday said its renewable portfolio recorded a 329% jump in consolidated net profit at Rs142.18 crore in the quarter to June 30, against the corresponding three months a year ago.

The renewable business capacity of Tata Power crossed 2,000 MW and non-fossil fuel portfolio stood at 3,144 MW, a 92% increase from a year ago, it said in a statement.

Another 500 MW of capacity is under construction by Tata Power Renewable Energy Ltd (TPREL), Tata Power’s wholly-owned subsidiary. The operating renewable portfolio of TPREL has grown to 1,457.2 MW, comprising 530.2 MW wind and 927 MW solar, respectively, it said.

On its commitment to generate 30-40% power by 2025 through clean energy sources, Tata Power managing director and chief executive officer Anil Sardana said, “In the last 5 years, we have become the largest renewable energy player and going forward, we will continue to invest in renewable energy projects, both organic and inorganic, as well as in cutting-edge technologies to maximise shareholder value."

Tata Power will continue to work towards ensuring that its renewable business remains the largest in the country, it added.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 23 Aug 2017, 02:33 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App