Tata Power Q3 Review – Beat On Interest Reduction And Odisha Profitability: Motilal OswalFebruary 5, 2021
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The improvement in Tata Power Company Ltd.’s Q3 FY21 earnings was led by interest cost reduction and profitability in its Odisha distribution business.
Adjusted profit after tax stood at Rs 3.7 billion and was significantly higher versus our estimate of Rs 2.3 billion.
Divestment-related measures and infusion of Rs 26 billion from the promoter has aided debt reduction.
The engineering, procurement, and construction business is recovering and is expected to pick-up, led by the healthy order book at Tata Power Solar Ltd.
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