shares of Tata Power falling more than 7% 234 on the BSE in Tuesday’s trading session, a day ahead of its earnings call as the Tata group company prepares to announce its Q3FY22 results on Wednesday, February 9, 2022.
Shares of Tata Power have given multibagger returns of over 160 per cent in one year period 90 per share level in February 2021. The stock is up 67% over the past six months while it has gained nearly 5% so far in 2022 (year-to-date or YTD).
Tata Power is India’s largest integrated electric power distribution company. It offers EV charging solutions across segments including home charging, public charging, workplace charging and captive charging. The company has recently tied up with several auto companies to install all types of chargers at their charging stations.
Tata Power has a presence in all segments of the EV charging ecosystem and has deployed all types of chargers – DC 001, AC, Type 2, Fast DC charger up to 50kWh and up to 240kwh charger for buses. It has also developed an EV charging app to locate the nearest charging station, get updates on charging and pay charges online.
The company’s net profit increased for the quarter ended September 506 crore in the three months ended 30 September 371 crore a year ago. its total income increased 10,187.3 crore in the quarter as against 8,441.6 crore in the previous year.
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