Tata Power Q4 net dips 18.6% | india | Hindustan Times
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Tata Power Q4 net dips 18.6%

Tata Power announced an 18.6% dip in its net profit to Rs 138.82 crore against Rs 170.55 crore for the quarter.

india Updated: May 31, 2006 12:04 IST

Tata Power Company Ltd on Tuesday announced an 18.6 per cent dip in its net profit to Rs 138.82 crore against Rs 170.55 crore for the quarter ended March 31, owing to the higher income of Rs 180 crore, it received last year on sale of its Tata Petrodyne.

The energy conglomerate also announced plans to augment generation capacity by over 4,500 MW involving capital expenditure of Rs 18,000 crore over next three-four years.

Recommending a dividend of Rs 8.50 per share, the company said its revenue from the power supply stood at Rs 1,106 crore against Rs 860.94 crore for the last quarter.

At year-on basis, the company registered a growth of 10.7 per cent at Rs 610.54 crore against Rs 551.36 crore for the last fiscal. This is the first time the firm has crossed the Rs 600 crore mark.

The revenues for the year were higher at Rs 4,562.79 crore against Rs 3,930.44 for the previous year.

Riding high over the good monsoons country received last year, Tata Power generated its highest ever hydro energy generation at 2,024 MW.

The company reported 7.5 per cent growth in its annual sales at 13,616 million units (MU) in FY 06 against 12,663 MU previous year.

Tata Power is exploring the opportunity of participating in the proposed ultra mega projects and has submitted its expression of interest for four such projects in Maharahstra, Madhya Pradesh, Karnataka and Gujarat. It has also received request for qualification for projects in Madhya Pradesh and Gujarat.

"We have completed the 120 MW Jojobera expansion project and the first phase of public-private partnership transmission Tala project ahead of the schedule. We are implementing a 250 MW coal-based plant at Trombay to meet Mumbai's future power requirement, which is scheduled to be completed in 28 months," Tata Power Director Adi Engineer told reporters here.

Besides this, the company will be installing 100 MW low capital cost diesel generating sets, as an interim arrangement to meet the additional requirement of Mumbai license area.

The firm has already announced setting up of two 1,000 MW plants in coastal belt of Maharahstra, which is presently facing a shortage of around 4,500 MW a day.