Tata Power shares pop 3% on solid Q2 Show. Should you buy, sell or hold?
[hfe_template id='11223']
[ad_1]
Shares of Tata Power rallied 2.9% to an intraday high of Rs 439.50 on the BSE on Thursday after the company reported a net profit (before exceptional items) of Rs 1,533 crore for the September 2024 quarter, compared with Rs 1,017 crore in the same quarter last year. This represents a 51% year-on-year (YoY) increase. Meanwhile, revenue from operations fell 1% YoY to Rs 15,247 crore. Consolidated EBITDA for the quarter rose 23% to Rs 3,808 crore, driven by increased solar manufacturing, favorable regulatory developments in distribution, and enhanced operational efficiency across businesses. The company also stated that it is well on track with its planned capital expenditure (Capex) for the financial year, having spent Rs 9,100 crore during H1 out of a total of Rs 20,000 crore. The transmission portfolio now stands at 7,049 circuit kilometers (Ckm), including 4,633 Ckm that are commissioned and 2,416 Ckm currently under construction. Also r...
