Tata Power profit up 27%

Record power generation from Trombay and Jojobera power plants has helped Tata Power Company Ltd, the country's largest private power company, to post a 27.23 per cent jump in net profit to Rs 257.43 crore for the quarter ended September 30, 2007, as compared with Rs 202.32 crore in the corresponding period a year ago.

Revenue for the period stood at Rs 1350.56 crore, a 12.57 per cent increase from Rs1199.79 crore in the previous corresponding period.

Sales rose 7.5 per cent at 3,811 million units (MU)s in the quarter against 3,545 MUs in the period last year.

Revenues from license area were up 15.91 per cent to Rs 1,172 crore as compared with Rs 1011.12 crore in the corresponding period last year. Unit sales in the license area increased by 5.01 per cent to 3,076 MUs in the quarter as against 2928 MUs in the previous corresponding period.

"The quarterly performance reinforces our commitment towards maximising operational efficiencies and setting industry benchmarks through enhanced performance in our existing business. The company is taking initiatives to increase generation in Maharashtra to meet the future needs in Mumbai and neighbouring regions," said Prasad R. Menon, managing director, Tata Power.

"The results are along expected lines and there are no surprises, except for the other income which has increased," said an analyst tracking the company. Tata Power shares closed up 1.29 per cent (or Rs 15.30) at Rs 1197.95 on the Bombay Stock Exchange on Tuesday.

Tata's Trombay Thermal Power Station recorded its highest ever generation at 5,042 MUs and operated at a plant load factor of 86.32 per cent in the half year to September 30. The previous high of 4,802 MUs at a PLF of 82.21 per cent was in fiscal 2003.

The Jojobera Thermal Power Station generated 1,442 MUs with an improved PLF of 76.8 per cent.