Tata Power, the country’s largest private power company, has reported an over two-fold jump in its net profit, at Rs 397 crore during the April-June quarter, owing to lower volume of high-cost power purchased from outside.
Decrease in fuel prices in the Mumbai licence area had brought down revenue to Rs 2,015.6 crore as against Rs 2,026.1 crore in the corresponding period last year.
Generation was up eight per cent at 4,260 million units (MUs) as compared to 3,935 MUs last year, while sales volume rose by two per cent at 4,180 MUs, the company said in a statement.