Tata Power gains after Q2 results

Tata Power rose 1.63% to Rs 68.70 at 14:10 IST on BSE after the company announced good Q2 results during trading hours today, 9 November 2015.

Meanwhile, the BSE Sensex was down 234.93 points, or 0.89%, to 26,030.31.

On BSE, so far 7.91 lakh shares were traded in the counter, compared with an average volume of 4.08 lakh shares in the past one quarter.

The stock hit a high of Rs 69.60 and a low of Rs 66.05 so far during the day. The stock hit a 52-week high of Rs 94.10 on 12 November 2014. The stock hit a 52-week low of Rs 55.55 on 7 September 2015.

The stock had outperformed the market over the past one month till 6 November 2015, falling 2.03% compared with 2.48% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 3.08% as against Sensex's 7.18% decline.

The large-cap company has an equity capital of Rs 270.46 crore. Face value per share is Re 1.

Tata Power reported a consolidated net profit of Rs 247.31 crore in Q2 September 2015, compared with net loss of Rs 77.75 crore in Q2 September 2014. Total income rose 11.80% to Rs 9557.76 crore in Q2 September 2015 over Q2 September 2014.

The company reported 19% increase in cost of power purchased to Rs 2490 crore in Q2 September 2015 over Q2 September 2014. Cost of fuel fell 2% to Rs 2106 crore in Q2 September 2015 over Q2 September 2014. Transmission charges fell 47% to Rs 61 crore in Q2 September 2015 over Q2 September 2014. Royalty towards coal mining fell 15% to Rs 224 crore in Q2 September 2015 over Q2 September 2014.

Tata Power's consolidated debt stood at Rs 40720 crore in Q2 September 2015, compared with Rs 41680 crore in Q1 June 2015 and Rs 41132 crore in Q2 September 2014.

The board of Tata Power approved the re-appointment of Mr Anil Sardana as CEO & Managing Director of the company for a period of 5 years with effect from 1 February 2016, subject to approval of the shareholders of the company. The announcement was made during trading hours today, 9 November 2015.

Tata Power is India's largest integrated power company with a significant international presence. The company has an installed generation capacity of 8669 megawatts (MW) in India and a presence in all the segments of the power sector viz generation (thermal, hydro, solar and wind), transmission, distribution and trading.

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