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Tata Power Q3 profit up 38% at Rs 599 cr, operating income sinks
Tata Power Company's third quarter profit on consolidated basis shot up 38.3 percent year-on-year to Rs 599 crore despite weak operational income and revenue, driven by improved performance of key Indian subsidiaries & coal companies coupled with a favourable tax credit. Tata Power Company 's third quarter profit on consolidated basis shot up 38.3 percent year-on-year to Rs 599 crore despite weak operational income and revenue, driven by improved performance of key Indian subsidiaries & coal companies coupled with a favourable tax credit. Revenue during the quarter fell by 9 percent to Rs 6,684 crore compared with Rs 7,353 crore in same quarter last year, impacted by lower revenue in standalone on account of lower power purchase cost, lower trading at TPTCL & one time recovery in standalone in previous year quarter.
The Tata Group company said together with its subsidiaries, it achieved generation of 13,022 million units of power from all its power plants. Operating profit dropped 27.1 percent year-on-year to Rs 1,403 crore and margin contracted by 500 basis points to 21 percent in the quarter gone by.Tax expenses on consolidated basis halved to Rs 70.6 crore from Rs 147 crore and forex loss narrowed to Rs 219.2 crore from Rs 153.6 crore on year-on-year basis. Regulatory income during the quarter stood at Rs 152.3 crore against expenses of Rs 365 crore in corresponding quarter of last fiscal
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Tata Power Company's third quarter profit on consolidated basis shot up 38.3 percent year-on-year to Rs 599 crore despite weak operational income and revenue, driven by improved performance of key Indian subsidiaries & coal companies coupled with a favourable tax credit. Tata Power Company 's third quarter profit on consolidated basis shot up 38.3 percent year-on-year to Rs 599 crore despite weak operational income and revenue, driven by improved performance of key Indian subsidiaries & coal companies coupled with a favourable tax credit. Revenue during the quarter fell by 9 percent to Rs 6,684 crore compared with Rs 7,353 crore in same quarter last year, impacted by lower revenue in standalone on account of lower power purchase cost, lower trading at TPTCL & one time recovery in standalone in previous year quarter.
The Tata Group company said together with its subsidiaries, it achieved generation of 13,022 million units of power from all its power plants. Operating profit dropped 27.1 percent year-on-year to Rs 1,403 crore and margin contracted by 500 basis points to 21 percent in the quarter gone by.Tax expenses on consolidated basis halved to Rs 70.6 crore from Rs 147 crore and forex loss narrowed to Rs 219.2 crore from Rs 153.6 crore on year-on-year basis. Regulatory income during the quarter stood at Rs 152.3 crore against expenses of Rs 365 crore in corresponding quarter of last fiscal
Read more for HNI Stock Tips- http://bit.ly/ace_services
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