Tata Power jumps after robust Q1 earnings

Tata Power rose 5.75% to Rs 71.70 at 14:32 IST on BSE after consolidated net profit rose 379.09% to Rs 1670.91 crore on 14% rise in net sales to Rs 7313.41 crore in Q1 June 2018 over Q1 June 2017.

The result was announced during trading hours today, 26 July 2018.

Meanwhile, the S&P BSE Sensex was up 38.83 points, or 0.11% to 36,897.06.

On the BSE, 10.06 lakh shares were traded in the counter so far compared with average daily volumes of 2.13 lakh shares in the past two weeks. The stock had hit a high of Rs 72.40 and a low of Rs 68 so far during the day. The stock hit a 52-week high of Rs 101.75 on 5 January 2018. The stock hit a 52-week low of Rs 66.65 on 23 July 2018.

During the quarter ended 30 June 2018, the company sold investments in Tata Communications and Panatone Finvest (associate companies), which were classified as assets held for sale in the previous year. The resultant gain on sale of investments of Rs 1897 crore has been disclosed as an exceptional income in the financial results.

Tata Power is India's largest integrated power company and, together with its subsidiaries & jointly controlled entities, has an installed capacity of 10757 MW.

Powered by Capital Market - Live News