Tata Power shares up 3% on smart Q4 profit

Tata Power's scrip moved up by 3% after its consolidated net profit more than doubled to Rs 360.25 crore for the quarter ended March 31.

The stock rose by 2.82% to Rs 72.70 on BSE.

On NSE, it climbed 2.97% to Rs 72.75.

Tata Power yesterday said its consolidated net profit more than doubled to Rs 360.25 crore for the quarter ended March 31, 2015-16 fiscal on strong operational performance and lower fuel cost.

The company's net profit after tax, minority interest and share of associates was at Rs 159.14 crore in the year-ago period, Tata Power had said in a BSE filing.

The company said its profit more than doubled mainly "due to strong operational performance and lower fuel cost".

Total income from operations of the company increased to Rs 9,375.16 crore from Rs 7,907.64 crore in the corresponding quarter of the previous fiscal.