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Tata Power net profit jumps 38% to Rs 599 cr in Q3

Tata Power

New Delhi: Tata Power on Friday reported a 38 per cent rise in consolidated net profit at Rs 599.2 crore for the third quarter ended December 31.

"The group has posted a net profit after tax, minority interest and share of profit of associates and joint ventures of Rs 599.2 crore for the quarter ended December 31, 2016 as compared to Rs 433.25 crore for the quarter ended December 31, 2015," Tata Power said in a BSE filing.

According to the statement, total income decreased to Rs 6604.59 crore in the quarter under review, from Rs 7324.25 crore in the same period last fiscal.

The company said the third quarter consolidated net profit in third quarter was up 38 per cent mainly due to improved performance of key Indian subsidiaries and coal companies coupled with a favourable tax credit.

It said that together with the subsidiaries Tata Power achieve generation of 13,022 million units of power from all its power plants.

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