Tata Power Q2 Results Live : Tata Power has declared its Q2 results for the financial year 2024 on 30 October 2024, revealing a mixed bag of performance metrics. The company’s topline experienced a slight decline of 0.26% year-over-year, while profit managed to increase by 5.83% during the same period.
In comparison to the previous quarter, Tata Power saw a more pronounced revenue drop of 9.23% along with a profit decrease of 4.57%. This indicates some volatility in the company’s earnings on a sequential basis.
The Selling, General & Administrative expenses for Tata Power rose by 2.67% quarter-over-quarter and increased by 4.61% year-over-year, suggesting that operational costs are impacting the company’s overall profitability.
On a positive note, the operating income showed resilience with an increase of 1.78% quarter-over-quarter and a significant 15.96% increase year-over-year, highlighting operational efficiency amidst challenging market conditions.
The company’s earnings per share (EPS) for Q2 stood at ₹3.17, marking a 15.7% increase year-over-year, which could provide some assurance to investors regarding the company’s profitability trajectory.
Despite the quarterly results, Tata Power has faced a -2.44% return in the past week and a -4.95% return over the last six months. However, the year-to-date return remains strong at 28.56%, indicating a positive long-term outlook.
Currently, Tata Power has a market capitalization of ₹136,441 crore, with its stock trading between a 52-week high of ₹494.85 and a low of ₹236.3, reflecting its volatility in the market.
As of 31 October 2024, a consensus of 20 analysts covering Tata Power reveals a mixed sentiment. Among them, 2 analysts have given a ‘Strong Sell’ rating, 6 have rated it as ‘Sell’, 1 as ‘Hold’, 7 as ‘Buy’, and 4 as ‘Strong Buy’. The consensus recommendation stands at ‘Hold’, indicating a cautious approach among market experts.
