Tata Power net profit rises 3% at Rs 122 cr

BS 200 SCORECARD

Tata Power Company today reported a net profit of Rs 121.85 crore in the first quarter of the current financial year "� 2.9 per cent increase over the year-ago quarter's figure of Rs 118.40 crore.

During the quarter, the company's topline grew 25.29 per cent at Rs 1,376.61 crore from Rs 1,098.75 in the same quarter crore last year. The company paid higher interest charges of Rs 14.13 crore on account of falling rupee.

A release said the sales volume showed an increase of 5.25 per cent to 3807 million units. The Jojobera Thermal Power Station generated 717 MUs compared with 575 MUs last year.

The company has begun work on the 250 mw (unit 8) coal-based plant at Trombay, which will serve to meet Mumbai's projected power needs. The plant is scheduled to be commissioned in 28 months. Work on the short gestation 100 mw DG sets is also progressing.

The company had bagged order for a 50 mw Wind Farm at Khandke, Ahmednagar. It is also in the process of acquiring land for the two 1000 mw coastal power plants in Maharashtra.

Work on another 120 mw unit (unit 6) at Jamshedpur has begun, which is a captive plant for Tata Steel and is based on waste gases from the steel making process. The project is expected to be commissioned in 26 months.

Tata Power has also received required coal linkages for 1000 mw Maithon Right Bank Thermal Power Project, a joint venture with Damodar Valley Corporation (DVC). About 55 per cent of the land for the project has been acquired.