Mid Cap Power Sector Stock Declares 48% Jump In Profit, Rs 2/Share Dividend

Mid cap stock operating in Power sector, Tata Power Company Ltd on May 4 declared a surge of 48% in its net profit to Rs 939 crore for the fourth quarter ended on March 31, 2023. It declared Rs 632 crore net profit in the corresponding quarter of last fiscal. The board of directors also recommended a dividend of Rs 2 per share. The stock gave 577% return in last 3-years. Check details below:

It declared a 6% jump in its consolidated revenue for Q4FY23 at Rs 12,755 crore amid higher sales across distribution companies and capacity addition in renewables.
According to the BSE filing of the company, "Consolidated EBITDA up by 38% at Rs 3,101 crore vs Rs 2,253 crore in Q4FY22 due to lower under recovery in Mundra, capacity addition in Renewables & execution of Solar EPC projects."

Meanwhile, the consolidated revenue growth surged 32% at Rs 56,033 crore as against Rs 42,576 crore in FY22 due to higher availability in Mundra Thermal Plant which operated under Ministry of Power (MoP) guidelines, higher sales across distribution companies & robust addition in Renewables portfolio.

Consolidated EBITDA grew by 23% at Rs 10,068 crore as against Rs 8,192 crore in FY22 on account of lower losses in Mundra Plant and capacity addition in Renewables.
Dividend: According to the regulatory filing of the company, "Board recommends a dividend of Rs 2 per share subject to shareholders approval."

Stock Performance & Return: The last trading price of Tata Power is Rs 203.75 per share on BSE. Its 52-week high price is Rs 254.00 per share and 52-week low price is Rs 182.45 per share, respectively. The stock declined 16% in last 1-year, gave 101% return in last 2-years, 575% return in last 3-years, and 139% return in last 5-years.

Disclaimer:The Tata Group company declared quarterly results and dividend. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.