May 6 (Renewables Now) - The renewable energy business of India’s Tata Power Co Ltd (BOM:500400) booked a 34% quarter-on-quarter increase in EBITDA for the fiscal fourth quarter ended March, contributing to the improved overall performance of the utility.
Earnings before interest, tax, depreciation and amortisation (EBITDA) at the renewables segment amounted to INR 6.06 billion (USD 87.4m/EUR 78m), Tata Power said on Thursday. The increase, coupled with the good operational performance of all other Tata Power businesses, helped the company boost its EBITDA for the last quarter of fiscal 2018/19 by 35% in annual terms to INR 18.79 billion.
The renewables division lifted its operational revenues and expanded its engineering procurement and construction (EPC) volume during the three months. Through the fiscal year, it managed to accumulate a solar EPC book of around INR 13.6 billion. A total of 200 MW of renewables capacity was added in the 12 months through end-March and an additional 400 MW of projects are in the pipeline.
(INR 10 = USD 0.144/EUR 0.129)