Tata Power Group Announces FY 2015-16 Consolidated Results

Tata Power has announced its results for the quarter ended 31st March, 2016.

Performance Highlights: Consolidated

• On a consolidated basis, Tata Power Group’s FY16 Revenue stood at Rs. 36,461 crore (including regulatory income / expense) up by 6% as compared to Rs. 34,367 crore (including regulatory income / expense) last year. This is mainly due tohigher sales by TPTCL, TPSSL and TPREL.
• PAT was up at Rs. 873 crore up by 420% as compared to Rs. 168 crore in FY15 mainly due tocontinued strong operational performance by TATA Power standalone and key Indian subsidiaries.
• During the Quarter ended 31st March 2016, Tata Power’s consolidated Revenue grew to Rs. 9,626 crore (including regulatory income / expense) up by 17% as compared to Rs. 8,240 crore (including regulatory income / expense) in the corresponding quarter last year.
• Operating Profit for the quarter was up by 12% at Rs. 1,572 crore as compared to Rs. 1,408 crore in Q4FY15 mainly due tostrong operational efficiencies and lower fuel cost.
• The Company’s PAT for the quarter was up at Rs. 360 crore as against Rs. 159 crore reported in the corresponding quarter last yearmainly due to strong operational performance and lower fuel cost.

Performance Highlights: Standalone

• For the Financial Year ended March 31st 2016, Revenue stood at Rs. 8,438 crore (including regulatory income / expense) as compared to Rs. 8,678 crore (including regulatory income / expense) last year, mainly due lower power purchase cost and lower cost of fuel.
• PAT stood at Rs. 998 crore (before exceptional loss of Rs. 226 crore) as against Rs. 1,010 in the corresponding period last year.
• For the Quarter ended March 31, 2016, Standalone Revenue was Rs. 2,044 (including regulatory income / expense) crore as against Rs. 2,165 crore(including regulatory income / expense) mainly due to lower fuel cost and power purchase cost.
• Profit from Operation was up by 6% to Rs. 456 crore as against Rs. 429 crore due to better performance of Mumbai Operation
• PAT increased by 30% to Rs. 278 crore (before exceptional loss of Rs. 226 crore) as compared to Rs. 213 crore in corresponding period last year. Mainly due to better performance of Mumbai Operations.

Commenting on the Company’s performance, Mr. Anil Sardana, CEO & Managing Director, Tata Power said, “The Company’s relentless focus on operationalimprovements have shown great results. All our subsidiaries and plants have shownstrong performance despite very challenging circumstances. We have grown our footprint and commissioned various projects nationally and internationally. Also APTEL decision is a welcome development & we hope that CERC would help resolve the impending issue of fuel-under recovery at CGPL soon.

To strengthen Company’s focus on sustainability, Tata Power has commissioned several non-fossil fuel based projectsduring the year, which is in line with its strategic intent. The Company aims to pursue a well charted growth strategy bydemonstrating a high level of commitment towards cleaner sources of generationthus increasing the share of non-fossil fuel based generation output to 30-40% by 2025.”

Key Awards & Recognition:

• Tata Power named as the World’s Most Ethical Company in 2016 by the Ethisphere Institute, for third year in succession.
• Tata Power won the second prize by National Energy Conservation Award for Discoms, 2015
• Tata Power was conferred with Sustainable Plus Platinum status by CII.
• Tata Power was conferred with the award in the category 'Best Performing Project of the Year - Dalot Wind Farm' at the Indian Wind Energy Forum 2015.
• The Company won Silver Shield in the category of Performance of Distribution Companies for Tata Power distribution and Consolation award in the category of Performance of Thermal Power Stations for Trombay Thermal Power Station by CEA.
• The Company has won three prestigious awards at the Tata Affirmative Action Programme Annual Convention 2015.
• The Company was awarded the prestigious Porter Prize for Excellence in Corporate Integration & Governance.
• At the 16th CII National Award for Energy Management 2015, the Company won Excellent Energy Efficient Unit and Most Useful Presentation for Trombay Thermal Power Station and Energy Efficient Unit for Haldia Generating Station.
• Tata Power's Trombay Thermal Power has been honoured with the second prize in the ‘Power Generation’ group at the Best Safety Practices Award Competition, 2015.
• The Company won two prestigious communication awards at the 55th 'Association of Business Communicators of India' (ABCI) Awards Nite 2016. Tata Power has bagged 2 distinct awards in categories - ‘Special Column Award' for Enerji Talk and ‘Civic & Moral Values’ for Tata Power club enerji.