Tata Power Group’s Q2 FY15 Consolidated Revenue stands at Rs. 8394 crore

Tata Power, India’s largest integrated power company announced its results for the quarter ended September 30th, 2014.

Key Financial Highlights:  Q2 FY15 Vs Q2 FY14

• Consolidated Revenue for the quarter was Rs. 8394 crore as compared to Rs. 8765 crore
• Consolidated PAT stood at Rs. (78) crore as compared to Rs. 75 crore
• Standalone Revenues for the quarter at Rs. 2035 crore as compared to Rs. 2200 crore
• Standalone PAT at Rs. 306 crore as compared to Rs. 262 crore

Key Financial Highlights: H1 Q2 FY15 Vs Q2 FY14

• Consolidated Revenue at Rs. 17160 crore as compared to Rs. 18104 crore
• Consolidated PAT stood at Rs. (189) crore as compared to Rs. (40) crore
• Standalone Revenue was Rs. 4363 crore as compared to Rs. 4807 crore
• Standalone PAT stood at Rs. 562 crore as compared to Rs. 619 crore

Key Business & Growth Highlights

• Tata Power's 100% subsidiary  refinances existing USD 450 million Fixed To Floating Rate Subordinated Notes by Medium Term Loan
• Tata Power's Coastal Gujarat Power Ltd, 4000 MW UMPP, Mundra certified for Quality, Environment and OHSAS Management Systems
• The Company installs Bio-Gas plants under their Green village concept in Mundra
• Tata Power's Skill Development Institute to benefit over 600 workers in FY15
• The Company adopts Kadachimeth and aims to transform it into a model village by 2017
• The Company bestowed with coveted National Award for Excellence in Corporate Governance 2013 by Hon'ble Finance Minister Mr Arun Jaitley.

Tata Power's Trombay Thermal Power Station honored with three National Awards at the 15th CII National Award for Energy Management 2014

Commenting on the Company’s performance, Mr. Anil Sardana, CEO & Managing Director, Tata Power said, “During the second quarter of FY15, the Company reported robust operational performance by its businesses maximizing shareholder value.

In this quarter, we have successfully received the distribution and transmission license for Mumbai for the next 25 years. This would help us to continue to empower the Mumbaikars with their ‘Right to choose’ the best service provider while helping us set consumer service and cost efficiency benchmarks in the power distribution business. We are working on additional roll-out plan for customer acquisition across Mumbai.

Our subsidiary CGPL continues to do its utmost to  honour our commitment towards the nation’s energy security agenda by providing reliable & competitive power supply.  We await and are hopeful of a quick resolution of India’s fuel issues including the unprecedented rise of imported coal prices and issues around domestic coal. Over the past 100 years, we have stood the test of providing reliable, uninterrupted power supply on 24x7 basis to Mumbai and would continue to strive to provide competitive services.”