Tata Power net trips 26%

BS 200 SCORECARD

Tata Power Company has posted a 25.6 per cent decline of in net profit at Rs 137.27 crore in the quarter ended December 31, 2004 compared with Rs 184.49 crore for the quarter ended December 31, 2003.

Revenues for the third quarter of the current financial year has gone down by 10.98 per cent to Rs 940.90 crore from the corresponding previous period's s Rs 1056.96 crore.

Net profit for the nine months ended December 31, 2004, went down by 16.33 per cent to Rs 380.45 crore compared with Rs 454.73 crore in the corresponding period of the previous year. Revenues during the period dipped by 7.24 per cent to Rs 2,968.14 crore from Rs 3,200.02 crore.

In a media statement the company said that while sales went up by 3.2 per cent to 9456 million units, overall revenues were lower by 8.6 per cent over last year mainly owing to a 9.2 per cent reduction in tariff in the Mumbai licence area, which came into effect from June 1, 2004.