Tata Power, posted a standalone net profit of Rs 252 crore in the June- September quarter, a jump of 37% year-on-year. The company said the increase was on account of higher dividend from subsidiaries and higher forex gains.
The company’s revenues for the quarter stood at Rs 1,571 crore as against Rs 1,672 crore in the same period last year, a decrease of around 6%. “The decrease is mainly due to lower fuel cost,” the company said in a statement on Friday.
The company is also bullish following the government approval for a 25-megawatt solar power plant in Gujarat.