Tata Power's Q1 profit up 160 per cent

Tata Power Company (TPC), India’s largest private sector power utility, has posted a consolidated net profit of Rs 572.65 crore for the first quarter of 2009-10, 160 per cent higher than the Rs 219.9 crore in the corresponding quarter in the previous year.

Revenues for the quarter were up by 15.8 per cent, at Rs 4,713.2 crore as compared to Rs 4,069.3 crore for the corresponding period last year. Its standalone revenue for the quarter had already been reported, at Rs 2,015.6 crore, with a profit after tax of Rs 377.1 crore.

Net revenue from the power business was up by 15.7 per cent, at Rs 3,343 crore, as compared to Rs 2,888.3 crore in the corresponding quarter of the previous year. Revenue from the coal business also went up for the quarter to Rs 1,158.4 crore from Rs 1,011.8 crore during the corresponding period last year.