Shares of Tata Power today surged 4.5 per cent after the company reported more than four-folds increase in consolidated profit after tax for the quarter ended on June 30.
The stock soared 4.50 per cent to close at Rs 70.85 on the BSE. Intra-day, it jumped 6.78 per cent to Rs 72.40.
On the NSE, shares of the company climbed 4.49 per cent to end at Rs 70.85.
In terms of equity volume, 12.06 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.
Tata Power today reported more than four-fold increase in consolidated profit after tax at Rs 1,735 crore for the quarter ended on June 30, 2018, on the back of exceptional gain from the sale of investments.
The company had posted a consolidated profit of Rs 405.8 crore in the year-ago quarter, according to a regulatory filing.
The consolidated income of the company in the April-June quarter this year increased to Rs 7,403.18 crore from Rs 6,559.4 crore in the year-ago period.
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