Tata Power Q1 net up 16%

Tata Power Company (TPC) has posted a 16% growth in its net profit at Rs 118.40 crore for the quarter ended June 30, 2005 as against Rs 101.64 crore in Q1FY05.

According to a release issued by the company to the BSE today, total income increased to Rs 1130.27 crore for the quarter ended June 30, 2005 from Rs 1104.32 crore in Q1FY05.

A J Engineer, director of TPC, said, "The results during the quarter signify strong volume growth as Tata Power has been able to contribute significantly to meet the demand for electricity in Mumbai. Due to the continued pressure on tariffs with the increase in fuel costs, the company is striving to reduce the impact on consumers through various efforts including an appeal to the central government for an extension of excise duty exemption. We also continue to explore growth opportunities in the various segments of the value chain along with enhancing operational efficiencies."