Tata Power net profit rises 22%

BS 200 SCORECARD

Tata Power Company today announced a net profit of Rs 279.9 crore for the quarter ended December 31, 2006, a jump of 22 per cent over the corresponding quarter last year.

The company reported an income of Rs 1200.51 crore for the third quarter, which was down from the Rs 1224.7 crore reported in the previous corresponding quarter. Operating profit was up 7 per cent from Rs 196.8 crore in December 2005 to Rs 210.75 crore for the current quarter.

The firm also reported a sharp fall in PBT at Rs 132.23 crore compared with the year-ago quarter's Rs 259.78 crore. However, the company had a negative tax provision for the quarter of Rs 148 crore, compared with Rs 33.9 crore for the corresponding previous quarter which contributed to the rise in net profits.

Electricity sales volume during the quarter showed increase of 9.05 per cent at 3655 million units (MU) from 3352 MUs, while generation increased by 5 per cent to 3587 MUs from 3208 MUs.