Tata power Q2 jumps 37%

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.

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.

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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.