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Tata Power shares rise 2% after Q4 net profit jumps 25% YoY

Tata Power shares rise 2% after Q4 net profit jumps 25% YoY

Economic Times15-05-2025
Revenue from operations for the March quarter rose by 8% to Rs 17,096 crore, up from Rs 15,847 crore in the corresponding period of the previous fiscal year.
Tata Power share price rose following a robust Q4FY25 performance, marked by a 25% YoY increase in net profit to Rs 1,306 crore and an 8% rise in revenue to Rs 17,096 crore. The company proposed a final dividend of Rs 2.25 per share and plans a substantial Rs 25,000 crore capex for FY26, with interest in Uttar Pradesh discoms.
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Shares of Tata Power Company rose 2% to hit the day's high of Rs 404.55 on the BSE on Thursday after the company reported a 25% year-on-year (YoY) increase in consolidated net profit, reaching Rs 1,306 crore in Q4FY25, compared to Rs 1,046 crore in the same quarter last year.Revenue from operations for the March quarter rose by 8% to Rs 17,096 crore, up from Rs 15,847 crore in the corresponding period of the previous fiscal year.The board has proposed a final dividend of Rs 2.25 per equity share for the financial year ending March 31, 2025. This dividend is subject to shareholder approval at the Annual General Meeting (AGM) scheduled for July 4, 2025.The company has set Friday, June 20, 2025, as the record date for determining eligible shareholders. Tata Power plans to allocate Rs 25,000 crore for capital expenditure (capex) in FY26 and is also interested in bidding for two discoms in Uttar Pradesh, CEO Praveer Sinha revealed while outlining the company's plans for the upcoming fiscal year.Regarding its nuclear project ambitions, Sinha mentioned that Tata Power is awaiting legal changes and will proceed once the necessary regulations are in place. The CEO shared these insights during a post-earnings call on Wednesday.Shares of the company dropped 8% in the last one year. Meanwhile, the stock has offered 78% and 1,185% in the last three and five years, respectively. Tata Power Company has worse 1-year returns than Sensex, Nifty50, Industry, and Sector.
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Timely, productive visit helped review & build India-Maldives cooperation: FS Misri on PM Modi's Malé visit
Timely, productive visit helped review & build India-Maldives cooperation: FS Misri on PM Modi's Malé visit

Time of India

time13 minutes ago

  • Time of India

Timely, productive visit helped review & build India-Maldives cooperation: FS Misri on PM Modi's Malé visit

Prime Minister Modi's state visit to the Maldives strengthened bilateral ties through key agreements and discussions. A major highlight was the extension of a Rs 4,850 crore line of credit and restructuring of existing debt, significantly reducing the Maldives' repayment obligations. The visit also included MOUs across various sectors and the launch of joint initiatives. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Prime Minister Narendra Modi's ongoing state visit to the Maldives saw high-level engagements and significant bilateral agreements, reaffirming India-Maldives ties and outlining a roadmap for future a special press briefing on Friday, Foreign Secretary Vikram Misri highlighted the importance of the visit, describing it as productive and timely. Accompanied by High Commissioner to Maldives G. Balasubramanian and Additional Secretary Puneet Agrawal, Misri provided a detailed account of the day's developments."As you would be aware, the Prime Minister is on a two-day state visit to the Maldives. You are all familiar with the fact that this is his third visit to the Maldives. He also happens to be the first head of government to be visiting the Maldives during the administration of President Muizzu," he saidReflecting the ceremonial importance of the occasion, Misri detailed that on arrival at the airport, the Prime Minister was warmly received by President Muizzu and members of his cabinet. "This was a very special gesture by the President. The Prime Minister was also corded a Ceremonial Guard of Honour and welcomed with a special cultural performance."This ceremonial welcome set the stage for substantive discussions and on Friday afteroon the Prime Minister and President Muizzu held restricted and delegation-level talks. "This gave both leaders the opportunity to review the entire gamut of issues in the bilateral relationship. They renewed various aspects of India-Maldives relations and in particular reflected on the progress made since October 2024, when President Muizzu had visited India on a state visit and when both countries had adopted the Joint Vision for India-Maldives Comprehensive Economic and Maritime Security Partnership," he talks were followed by the signing of key agreements. "You would already be familiar with; you would have seen the ceremony for exchange of memoranda of understanding and agreements between the two sides. Let me just review the key agreements and MOUs that have been signed. We have signed an MOU related to the extension of a fresh line of credit of Rs 4,850 crore to the Maldives. This is the first LOC extended to the Maldives that is denominated in Indian rupees. The LOC represents a continuation of the tradition of assistance to the development needs of the Maldives and we expect that several infrastructure projects will be carried out as a result of this LOC agreement benefiting the lives of citizens here in the Maldives."He elaborated on financial restructuring aimed at easing the Maldives' economic burden. "Together with this, the two sides also signed an amendatory agreement that amended the existing dollar line of credit between India and the Maldives. I would like to in particular point to the fact that with the signature of this amendatory agreement, the annual debt repayment obligations of the Maldives will reduce by a sharp 40% from nearly US$51 million annually to about US$29 million."Misri further outlined the range of MOUs signed, covering diverse sectors. "The other understandings signed today include an MOU on cooperation in the field of fisheries and aquaculture, an MOU between the Indian Institute of Tropical Meteorology of the Ministry of Earth Sciences and the Maldives Meteorological Services in the Ministry of Tourism and Environment; an MOU on cooperation in the field of sharing successful digital solutions that have been implemented at population scale for digital transformation between the Ministry of Electronics and IT of India and the Ministry of Homeland Security and Technology of the Maldives."He added, "There was also an MOU on the recognition of Indian pharmacopoeia in the Maldives, which will reinforce the availability and sourcing of high-quality medicines in the Maldives; and a network-to-network agreement between India's NPCI, the National Payments Corporation of India International Limited, and the Maldives Monetary Authority. 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Chandigarh MC buildings set to get rooftop solar panels under rent-a-roof model
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Time of India

time13 minutes ago

  • Time of India

Chandigarh MC buildings set to get rooftop solar panels under rent-a-roof model

Chandigarh: In a significant move, approximately 100 buildings of the municipal corporation (MC) are all set to have solar energy on their rooftops, as the Chandigarh Renewable Energy and Science and Technology (CREST) has sent a detailed MoU to be signed with the corporation for this project. As per the proposal, the MC will not have to spend even a single penny on this project, and they will earn around Rs 40 lakh annually as rent from the private company. Now, this detailed MoU is coming in the monthly general house meeting of the MC, scheduled for Tuesday, for deliberation and subsequent approval of the members. As per the proposal, the solar panels will be installed under a 'Rent-a-Roof', Resco Model (Renewable Energy Service Company) framework, where the selected company through bids will install the solar on all the selected buildings' rooftops, maintain them, and pay rent to the MC. The move came following a high-level meeting under the chairmanship of chief secretary Rajiv Verma, recently. The proposal of the CREST, a copy of which is with TOI, reads, "Chandigarh administration has been consistently working towards the saturation of rooftop solar installations across all govt and private buildings in the city. To utilise this potential effectively, CREST proposes the implementation of grid-connected rooftop solar plants on MC buildings through the 'rent-a-roof' framework. Under this model, the developer offering the highest rooftop rent per unit of energy generated shall be selected through competitive bidding. This will ensure regular revenue for MC, with zero capital expenditure or maintenance responsibility." The letter further reads, "The rent-a-roof approach allows MC to monetise its rooftop assets, receive guaranteed bi-monthly income, and avoid long-term tariff commitments. The total feasible rooftop solar capacity assessed on MC buildings is approximately 3MW. Based on generation potential and other parameters, MC stands to earn an estimated Rs 39-40 lakh per year, depending on the rent rate received through bidding." Following this, CREST has requested approval of the proposed model and MoU and timely consent to initiate the process. Once approved by the MC's general house, the CREST shall thereafter proceed with the tendering and execution of the project in coordination with the MC. Key Terms of MoU Rooftop rent to be paid by the Resco developer bi-monthly based on the energy generation under the gross metering arrangement No damage to MC roofs - any structural damage to be repaired by the Resco Water supply for periodic solar panel cleaning to be provided by MC Plant security to be provided by MC Insurance and operational responsibilities lie with Resco Escrow mechanism for transparent and timely rent transfers

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Q1 results today: Kotak Mahindra, IDFC First Bank among 38 firms on July 26

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