Tata Power Company, the largest private power firm in the country, has registered a 57.61 per cent rise in net profit at Rs 354.60 crore in the March-ended quarter. The rise was due to a Rs 308-crore gain from the company’s sale of its partial holdings in Tata Teleservices (TTSL).
Net sales fell 11.53 per cent to Rs 1,373 crore as compared with Rs 1,552 crore in the same period last year. The fuel cost in the fourth quarter fell 19.96 per cent to Rs 874 crore after a fall in commodity prices. The company’s consolidated profit after statutory appropriations rose 26.85 per cent to Rs 1,264.04 crore in the financial year ended March 2009. The consolidated revenue rose 61.48 per cent to Rs 1,7587.53 crore.
Dividend increased to Rs 11.50 a share as compared with Rs 10.50 last year.
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