With nothing new released to the market today, let's look at the energy company's half-year (1H21) report released after the close of trade on Friday to see what might be moving the TPC share price today.

Half-year financial highlights

The company reported a 0.5% revenue gain with 1H21 revenue totalling $44.7 million.

Earnings before interest, tax, depreciation and amortisation (EBITDA) was $6 million for the 1H21 period. This is a 22.4% improvement compared to $4.9 million in the previous corresponding period (pcp).

TPC posted an earnings per share (EPS) of 33.80 cents for 1H21 compared to 21.96 cents for 1H20.

The interim dividend for the period was 8 cents a share.

Net profit after taxes (NPAT) zoomed up 54.1% from $2.5 million posted at the end of 1H20 to $3.8 million at the end of 1H21.

Current assets also came in higher, jumping from $9.7 million for 1H20 to $28.6 million for 1H21, a 51.3% gain.

As of 31 December 2020, cash and bank deposits were $8.8 million, up 186.4% compared to pcp.

Looking ahead

In its half-year report, the company released the following statements regarding its outlook.

The half-year started off being especially uncertain with the onset of COVID-19. We were monitoring business activities both internally and externally carefully. Our main concern was the ability of our customers to continue to pay their energy bills in light of business closures and employment uncertainties.

We are pleased to report that, as a result of our diligence, the net impact was manageable although we continue to be cautious until full return to normalcy; post-COVID-19 environment.

TPC further noted that the company continued to make headway in the renewable energies market. It expects to share its progress with the market later this year.

Revenues and earnings are both believed to be on track to meet investor expectations.

TPC share price snapshot

The TPC share price has gained 100% over the past year and has hiked up 60.9% in the past month alone.

The company's approximate market capitalisation is $23.9 million, with an estimated 11.4 million shares outstanding. 

The post Here's what sent the TPC (ASX:TPC) share price powering 23% higher today appeared first on The Motley Fool Australia.