Home / Business and Economy / Tata Power Surges on Stellar Results, Sets FY30 Goals
Tata Power Surges on Stellar Results, Sets FY30 Goals
12 Nov
Summary
- Revenue jumped 27.1% to ₹19,636 crore, with net profit up 48.6%.
- Company achieved ₹10,000 crore capex in H1FY27, targeting ₹25,000 crore.
- Sanjay Banga to become CEO and MD from May 1, 2027.
Tata Power Company Ltd. announced impressive Q2FY27 financial results, with revenue climbing 27.1% year-on-year to ₹19,636 crore and net profit soaring 48.6% to ₹1,366 crore. Growth drivers included contributions from its Mundra, Renewables, Mumbai Transmission, and Odisha distribution businesses.
The company has also demonstrated its commitment to expansion by investing approximately ₹10,000 crore in capital expenditure during the first half of FY27. It remains on course to meet its full-year capex objective of ₹25,000 crore. Furthermore, Tata Power is initiating a leadership transition, planning to appoint Sanjay Banga as its new Chief Executive Officer and Managing Director effective May 1, 2027, for a five-year tenure.
Looking ahead, Tata Power has outlined ambitious targets for FY30, aiming for a revenue of ₹1,00,000 crore, EBITDA of ₹30,000 crore, and a net profit of ₹10,000 crore. The company is actively managing ongoing legal matters, including the Mundra Power Purchase Agreement hearing at the Central Electricity Regulatory Commission and the Kleros Capital Partners case before the Supreme Court of Singapore.
