Tata Power announces Q2 FY 2018-19 results with 85% increase in Consolidated PAT. Reaffirms strong operating performance.Reports 19% increase in renewables EBITDAA at ₹631 crore.
Tata Power, India’s largest integrated power company, today announced its results for the quarter ended 30thSeptember 2018, reporting a85% increase in consolidated profit.During this quarter, Tata Power introduced various future-ready technological deployments for the benefit of its customers like the QR Code for easy bill payments and installing Electric Vehicle charging infrastructure in Mumbai, thereby reaffirming its positioning of being a tech forward integrated power company.
Q2 FY19: PERFORMANCE HIGHLIGHTS: CONSOLIDATED
PERFORMANCE HIGHLIGHTS: STANDALONE
Commenting on the Company’s performance, Mr. Praveer Sinha, CEO & Managing Director, Tata Power said, “We are happy to report that all our businesses have done well and our operations continue to perform well. Our growth agenda now is more focused on renewables, rooftop solar solutions and using the Resurgent Power platform to acquire value adding assets. In the coming years, we haveidentified key growth areas which includes Renewable Generation, Transmission, and Distribution along with new value-added businesses including Rooftop Solar, Smart Metering, Home Automation, Micro Grids in rural areas and setting up of Electric Vehicle charging units.
During the quarter, we also rolled out our retail rooftop solutions nationwide that has received good response from the customers.”
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