In the April-June 2022 quarter, Tata Power's consolidated net profit rose by 103.2% to Rs 794.60 crore, despite its share price falling 4% on Wednesday.

There was a 43% increase in revenue from operations at Tata Group firm to Rs 14,495.48 crore. High profits from the coal joint venture contributed to the strong performance

Despite strong growth for a second consecutive quarter, analysts see limited upside for Tata Power's stock.

The coal business at Tata Power outperformed consensus estimates in Q1FY23, according to Edelweiss Securities analysts

In Tata Power's case, the CGPL operates under section 11 (cost passthrough), limiting near-term losses.

The RE monetisation fund will soon provide Tata Power with Rs 2,000 crores in equity support as it accelerates its manufacturing and generation of renewable energy.

Tata Power has established itself as the largest integrated renewable energy company in India, according to analysts at B&K Securities.