Authors: TheIndianSubcontinent News AgencyNEW DELHI: Tata Power on Wednesday reported a profit of Rs 1,478 crore for March quarter on higher sales.
This compares with a loss of Rs 227 crore in the same period last year.The firms operating profit for the quarter was up 18 per cent at Rs 1,445 crore compared with Rs 1,221 crore in the year-ago period, mainly due to renewable business and all-round good performance of all businesses.The board has recommended a dividend of Rs 1.30 per share.During the quarter ended March 31, Tata Powers consolidated revenue rose to Rs 7,853 crore, up 14 per cent against Rs 6,876 crore last year on higher power generation and sales.Praveer Sinha, CEO Managing Director, Tata Power said: The company has registered a strong growth in consolidated PAT.
All our subsidiaries and plants have reported robust performance despite challenging circumstances and sectoral challenges.
This has been largely due to companys relentless focus on operational improvements excellence."The renewable business of the company crossed Rs 425 crore of PAT and 2,349 MW capacity mark.
During the year, it added 276 MW, the company said in press release.
Shares of the company closed at Rs 86.95, down 1.36 per cent ahead of its earnings numbers on Wednesday.