Tata Renewable's revenue rises 58% in Q1 FY 2014/15
Aug 14, 2014 - Indian company Tata Power Renewable Energy Ltd saw its revenues in April-June 2014 jump by 58% on the year, while net loss widened to INR 20 million (USD 328,000/EUR 245,000).
For comparison, the renewables unit of India’s Tata Power Co Ltd (BOM:500400) reported a loss of INR 10 million in corresponding quarter of fiscal 2013/14, the parent said on Tuesday. Tata Power Renewable Energy’s revenue for the reporting period grew to INR 300 million from INR 190 million a year ago.
Tata Power Co’s consolidated revenue in the first quarter of fiscal 2014/15 was INR 87.66 billion, down from INR 93.40 billion a year back. Net loss improved slightly to INR 1.11 billion from INR 1.15 million.
Tata Power’s green energy portfolio currently includes 460.6 MW of operational wind farms, 54 MW of solar parks, 447 MW of hydropower plants and 240 MW of waste gas-based power generation assets. The company is to complete in the current fiscal year two wind projects in Maharashtra state of 32 MW and 49.5 MW, respectively.