Tata Power announces FY2014-15 Consolidated Results; Dividend of Rs.1.30 per share

Tata Power has announced its results for the quarter ended 31^stMarch, 2015.

PERFORMANCE HIGHLIGHTS: CONSOLIDATED

• On a consolidated basis, Tata Power Group’s FY15 Revenue stood at Rs. 34,367crore as compared to 35,873 crore last year. This is mainly due to lower realisation in Coal Companies and lower revenue from Trombay Units.
• PAT was upat Rs.168crore as compared to Rs. (260) crore in FY14mainly due to favourable impact of forex in VAT settlement &in Coal Companies, favourable impact of tariff order in MPL and CGPL’s higher contribution due to reduced coal prices and lower depreciation.
• During the Quarter ended 31st March 2015, Tata Power’s consolidated Revenue stood at Rs. 8,240 crore as compared to Rs. 8,902crore in the corresponding quarter last year mainly lower Price realisation from Coal Companies
• Operating Profit for the quarter was up by 28% at Rs.1,408 crore as compared to Rs. 1,097 crore in Q4FY14mainly due to lower depreciation & lower coal price in CGPL and higher contribution from Mumbai Operations.
• The Company’s PAT for the quarter was up at Rs. 159crore as against Rs.(145) crore reported in the corresponding quarter last year mainly due to lower depreciation & lower coal prices in CGPL and better performance of Mumbai Operations. The impact of lower coal price realization were offset by better operational efficiencies of coal mines as well as forex gains on VAT related settlement during the year.

PERFORMANCE HIGHLIGHTS: STANDALONE

• For the Financial Year ended March 31st 2015, Revenue stood at Rs. 8,678 croreas compared to Rs. 8,676crore last year, mainly due to lower revenue from Trombay Unit 8. Previous year had an ATE order of Rs. 300 crore in Mumbai operations.
• PAT up by 6% to Rs.1,010 crore as against Rs. 954 in the corresponding period last year. Previous year had an ATE Order of Rs. 300 crore in Mumbai business.
• For the Quarter ended March 31, 2015, Standalone Revenue was up by 19% toRs. 2,165 crore as against Rs. 1,825 crore mainly due to higher fuel cost and better operational performance by Mumbai Operation and increase in SED revenue mainly due to execution of Airfield projects.
• Profit from Operation was up by 28% toRs. 429 crore as against Rs. 334 crore due to better performance of Mumbai Operation.
• PAT increased by 153% to Rs. 213 crore as compared to Rs. 84 crore in corresponding period last year. mainly due to better performance of Mumbai Operations, higher contribution from SED and lower forex loss with respect to Previous Year.

Commenting on the Company’s performance,Mr. Anil Sardana, CEO & Managing Director, Tata Power said, “The Company has significantly improved its profitability in the fourth quarter of FY14-15 andfor the year 2014-15. All units have consistently maintained strong operational performance across our business verticals, despite very challenging circumstances.We have grown our footprints and ventured into many projects in the international market.

We are extremely happy to announce various landmarks in the 100th year of our company’s existence, such as commissioning of the 126MW Dagachhu Hydro Power Corporation (DHPC) in Bhutan, completion of the financial closure for 187 MW Adjaristsqali hydro project in Georgia along with IFC, ABD and EBRD.The Company has also formalised the acquisition of 50% shareholding in 120 MW hydro power plant in ItezhiTezhi district in Zambia.”

OPERATIONAL HIGHLIGHTS:

The Company continued its robust operations and performed well. Standalone Generation for the quarter stood at 2596MUs.Mundra reported generation of 6958MUs.Maithon plant reported 1599MUs.Trombay Thermal Power Station generated 1254 MUs while Hydro Power Stations generated 347MUs. Wind Farms generated 68 MUs.Jojobera Thermal Power Station generated 697 MUs and Haldia reported generation of 228 MUs. Industrial Energy Limited reported generation of 396 MUs and. TPREL generated 77MUs. Solar plants recorded generation of 1 MU.

Awards & Recognition:

• Tata Power's Coastal Gujarat Power Ltd, 4000 MW UMPP, Mundra certified for Quality, Environment and OHSAS Management Systems
• Conferred for its 'Outstanding Performance in the Power Sector' at the Central Board of Irrigation and Power (CBIP) Awards
• The Company’s has been recognised by the Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices, as a 2015 World's Most Ethical Company®