Tata Power rallies 8% on merger proposal with 3 wholly-owned subsidiaries

That apart, the company's net profit rose by 10% to Rs 268 crore for quarter ended June on the back of reduced expenses, compared to a net profit of Rs 243 crore reported in the year-ago period

Tata Power shares surged as much as 8.3 per cent to Rs 57.4 on the BSE on Thursday after the firm reported June quarter result post market hours on Wednesday. The company's net profit rose by 10 per cent to Rs 268 crore for quarter ended June on the back of reduced expenses, compared to a net profit of Rs 243 crore reported during the same period a year ago.

However, it's consolidated profit before tax (PBT) and exceptional items for the June quarter dipped 31 per cent to Rs 480 crore, as against Rs 605 crore PBT posted in Q1FY20.