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CHAPTER 2.docx - James Montu Pahan 19321034 CHAPTER 2...

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James Montu Pahan19321034CHAPTER 2ARTICLE 1:Tata Power Q4 results: Net profit rises 31% to Rs 632 cr, board declares dividendThe revenue from operations increased 16 per cent to Rs 12,085 crore in the quarter under reviewfrom Rs 10,379 crore in the same quarter last fiscal.APARNA BANERJAMay 06, 2022Tata Power on Friday reported 31 per cent rises in consolidated profit after tax (PAT) at Rs 632 crorefor the quarter ended 31 March, 2022. The company had reported a net profit of Rs 481 crore in theyear-ago period. This is the 10th consecutive quarter of PAT growth, it said in a statement. TataPower's PAT before exceptional items stood at Rs 775 crore. "Consolidated PAT before ExceptionalItems up by 76 per cent YoY (year-on-year) at Rs 775 Crore in March quarter vs Rs 440 Crore in Q4FY21 (March quarter)," the company said in the statement. The revenue from operations increased 16per cent to Rs 12,085 crore in the quarter under review from Rs 10,379 crore in the same quarter lastfiscal. The company's EBITDA, or earnings before interest, taxes, depreciation, and amortizationcame in at Rs 2,253 crore in Q4FY22, a growth of 35 per cent from Rs 1,668 crore in Q4FY21, it saidin a regulatory filing. With respect to Mundra Power Plant, the company said that it has initiated thediscussions with GUVNL to enter into a supplementary power purchase agreement (SPPA). Thediscussions are at very advanced stage and agreement is reached except few items for whichdiscussions are ongoing and accordingly the SPPA is yet to be signed and approved. "To ensurecontinuous supply of power, GUVNL has requested the Group to continue supplying power based onthe SPPA which will be effective January 1, 2022. Accordingly for the quarter ended March 31, 2022,the differential revenue of ~ 324 crore has been recognized on the basis of the current agreed draft ofSPPA," it added. Further, the Board has also recommended a dividend of Rs 1.75 per equity share ofRs one each (at the rate of 175 per cent) to the shareholders for the year ended March 31, 2022. Thedividend recommended by the Board is subject to the approval of the shareholders at the ensuing103rd annual general meeting (AGM) scheduled to be held on July 7, 2022. Commenting on thecompany’s performance, Praveer Sinha, CEO & Managing Director, Tata Power said, "We endedFY22 on a high note, with our 10th consecutive quarter of PAT growth, fueled by broad-based growthacross all our business clusters comprising Generation, Transmission, Distribution including Odisha

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Term
Fall
Professor
NoProfessor
Tags
Renewable Energy, Generally Accepted Accounting Principles, Sustainable energy, tata power

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