Tata Power and BHEL's Q2FY24 results released

Tata Group companies Tata Power Company Limited and Bharat Heavy Electricals Limited have released the results of the second quarter (Q2FY24) of the financial year 2023-24 today i.e. on 8 November. In the July-September quarter, Tata Power has made a profit of ₹ 1,017 crore with a growth of 8.8% on an annual basis.

The company's profit in the second quarter of last year was ₹935 crore. Tata Power's revenue during this period was ₹ 15,738 crore. Last year it was ₹14,030.7 crore. The company's revenue on an annual basis has increased by 12.2%.

Tata Power's EBITDA increased by 75.5%
EBITDA also increased by 75.5% to ₹3,090.4 crore in Q2FY24 as compared to ₹1,760.5 crore in Q2FY23. Talking about EBITDA margin, it has increased by 7.1% on annual basis. It was 19.6% in the July-September quarter. It was 12.5% in the same period last year.

BHEL suffers loss of ₹238.1 crore
Whereas the government company Bharat Heavy Electricals Limited i.e. BHEL has suffered a loss of ₹ 238.1 crore in the second quarter of the current financial year. The company had earned a profit of ₹12.1 crore in Q2 of FY 2023. BHEL's revenue declined 1.5% year-on-year to ₹5,125.3 crore in Q2FY24.

Company's EBITDA minus ₹243.9 crore
It was ₹5,202.6 crore in the same period last year. At the same time, the EBITDA of the company has also been negative by ₹ 387.7 crore during this period. Even in the July-September quarter of 2022, the company's EBITDA was at minus ₹243.9 crore. There has been an improvement of about 18% on annual basis.