Coal and Mundra profits lead to another strong quarter; Renewables and distribution businesses perform well
Tata Power Company’s (TPWR) run of strong quarterly results continued in Q3FY23 sustained by higher profits from coal and Mundra businesses and robust performance of distribution businesses. For Q3FY23, on consolidated basis, TPWR’s reported revenues were up 31% YoY, at Rs143.6bn, mainly due to higher power sales across discoms and higher revenues from coal and Mundra operations.