Tata Power Q3 net dips 40% Rs 263 cr

Tata Power reported a 40.5% decline in its consolidated net profit at Rs 263 crore for the third quarter ended December 31, 2011.

The company had posted a net profit of Rs 442 crore in the corresponding quarter last financial year.

However, net sales during the third quarter rose 50.6% to Rs 6,645.80 crore from Rs 4,413 crore in the year-ago period, it added.

Shares of the company today settled at Rs 111, down 0.70% from its previous close on the BSE.