Tata Energy This autumn Outcomes: Revenue rises 31% YoY to Rs 632 crore

NEW DELHI: Tata Power on Friday stated its March quarter consolidated internet revenue got here in at Rs 632.37 crore, up 31.41 per cent from Rs 481.21 crore in the identical quarter final 12 months.

The corporate stated its income from operations stood at Rs 11,959.96 crore, rising 15.41 per cent from Rs 10,362.60 crore from the corresponding quarter 12 months in the past.

The Board additionally advisable a dividend of Rs 1.75 per fairness share.

The corporate stated with respect to Mundra Energy Plant, the Group has initiated discussions with GUVNL to enter right into a supplementary energy buy settlement (SPPA). The discussions are at very superior stage and settlement is reached besides few objects for which discussions are ongoing and accordingly the SPPA is but to be signed and authorised.

“To make sure steady provide of energy, GUVNL has requested the group to proceed supplying energy based mostly on the SPPA which can be efficient January 1, 2022. Accordingly, for the quarter ended March 31, 2022, the differential income of Rs 324 crore has been acknowledged on the premise of the present agreed draft of SPPA,” the corporate stated.

In the course of the quarter ended March 2022, Tata Energy Renewables Power and its subsidiaries based mostly on numerous orders by judicial authorities and authorized opinions obtained, have assessed its claims underneath numerous contracts with prospects and distributors.

Accordingly, renewable entities have recognised an revenue amounting to Rs 320 crore (together with an quantity of Rs 232 crore regarding earlier years) in the course of the quarter comprising of Rs 259 crore labeled as income from operations and Rs 61 crore labeled as different revenue.