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Tata Power takes control of power distribution in North-Eastern Odisha
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Power tariff in Odisha to increase by 30 paise per unit from April 4
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Tata: Competition Commission approves Tata Power-NESCO deal
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On a consolidated basis, Tata Power Company reported 28.4% rise in net profit to Rs 248.21 crore on 7.5% increase in net sales to Rs 7597.91 crore in Q3 FY21 over Q3 FY20.
The company s improved profitability was mainly due to better performance in Mundra, steady operational performance across all businesses and interest cost savings on account of debt reduction.
Consolidated EBITDA was up 1% at Rs 1,997 crore in Q3 FY21 as compared to Rs 1,970 crore in Q3 FY20. Profit before tax in Q3 December 2020 stood at Rs 421.09 crore, up by 20.4% from Rs 349.74 crore in Q3 December 2019. Current tax expense increased by 2.41 times to Rs 174.72 crore in the third quarter from Rs 72.5 crore in the same period last year.
Results: Tata Power Q3 profit up 22% at Rs 318 crore
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Tata Power on Thursday posted over 22 per cent rise in consolidated net profit at Rs 318.41 crore for December quarter 2020-21, mainly on the back of higher revenues.
The net profit in the year-ago period was Rs 260.10 crore, Tata Power said in a BSE filing. Total income rose to Rs 7,702.84 crore in the quarter from Rs 7,136.04 crore in the same period a year ago. We are pleased to inform that all our businesses and subsidiaries have reported a robust performance this quarter despite facing pandemic related challenges, Praveer Sinha, CEO & Managing Director, Tata Power said in a statement.