 "Tata Power consolidated net profit drops 86% to Rs 231 crore in Q1")
Tata Power’s consolidated net profit declined by 86 per cent to Rs 230.80 crore in the quarter ended June 30 (Q1), due to exceptional gains in the same quarter of last year, according to a regulatory filing.
The company had posted a consolidated net profit of Rs 1,735.12 crore for Q1 in 2018, boosted exceptional gains of Rs 1,897.24 crore from the sale of non-core investment.
Tata Power said the consolidated net profit before exceptional items stood at Rs 254 crore in Q1 against Rs 252 crore in the year-ago period due to lower losses in Mundra on account of lower price of coal, capacity addition in renewables, favourable regulatory order in Maithon and steady operational performance across all segments.
Total income during Q1 rose to Rs 7,874.64 crore from Rs 7,404.97 crore in the year-ago quarter.
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