| The company will seek shareholders' approval for the sale of the power undertaking, which has a capacity of 75 MW, through postal ballot. |
| The company managed to register a 2.2 per cent growth in net profit in the quarter ended June 30, compared with the last comparable period. |
| Its profit after tax, during the period, went up to Rs 101.64 crore from Rs 99.43 crore. |
| As the wind farm was taken out of business as per the Maharashtra Electricity Regulatory Commission order, there was a creation of additional deferred tax in respect to previous years aggregating Rs 20 crore, restricting the net profit to grow by only 2.2 per cent, the company said. |
| Firose Vendrevala, managing director, said: "The quarter performance reflects both the benefit of increased sales and better internal effeciencies. The company is confident of the future and is pursuing several opportunities in India and abroad." |
| It is learnt that the proposed Rs 1,000 crore collection through bonds is a part of the company's plan to raise $500 million ( approximately Rs 2,250 crore) to fund its capital expenditure. |
| Tata Power, in its latest annual report, said it had planned to incur expenditure of about Rs 6,000 crore over five years. The fund was required to finance new as well as existing projects. |
| Apart from the projects in hand, the company is evaluating new generation plans and "is keenly following the privatisation initiatives in distribution taken up by various state electricity boards," the report said. |
| The report added that the projects would enhance the generation capacity as well as strengthen the company's presence in the distribution sector. |
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