Tata Power Q2 net soars 83% to Rs 675 cr

Country's largest private power producer Tata Power today said its net profit jumped by 83 per cent to Rs 675.54 crore for the quarter ended September 30, 2010.

Tata Power had posted a net profit of Rs 368.73 crore in the corresponding period last fiscal, the company informed the Bombay Stock Exchange.

The company's revenue grew a meagre one per cent to Rs 4,797.84 crore from Rs 4,735.46 crore in the same period last year, it said.

"We are happy that our efforts to explore new avenues in the renewable space are moving on a steady path and in the rightdirection," Tata Power MD Prasad R Menon said.

 

Shares of the company closed at Rs 1,375.85, down 1.43 per cent on the BSE.