Financial Daily from THE HINDU group of publications
Wednesday, May 31, 2006
Financial Daily from THE HINDU group of publications Wednesday, May 31, 2006 |
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Corporate Results
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Power Tata Power Q4 net at Rs 139 cr Our Bureau
Mumbai , May 30 Tata Power Company has reported a net profit of Rs 138.82 crore for the fourth quarter ended March 31, 2006; lower than the net profit of Rs 170.55 crore inthe corresponding year-ago quarter. This results are not strictly comparable as the year-ago fourth quarter saw a one-time gain of Rs 181 crore on account of the sale of Tata Petrodyne, said Mr Adi Engineer, Director, TPC. Total revenues for the quarter rose by 21 per cent, to Rs 1,171 crore, up from Rs 962 crore. The operating profit for the quarter was almost unchanged, at Rs 157.28 crore (Rs 156.86 crore). The company's net profit for the year ended March 31, 2006, rose by 10.7 per cent, to Rs 610.5 crore (Rs 551.36 crore). Again, this would have been higher but for `other income' and `one-time gains' being higher by around Rs 90 crore in the previous year, said Mr S. Ramakrishnan, Executive Director, TPC. Revenues rose by 16 per cent, to Rs 4,562.8 crore (Rs 3,930.4 crore) while volume sales rose by 7.5 per cent, to 13,616 million units of power (12,663 mu). Operating profit amounted to Rs 835.5 crore, down from Rs 952.7 crore. The hydro-stations of TPC registered their highest-ever power generation at 2024 mu aided by good water level in its lakes after the good monsoon last year. Higher electricity from its hydro plants have helped optimise the balance between hydro and thermal generation for the company, reducing the pressure of rising fuel costs on consumers (fuel cost is a pass through to consumers), said Mr Engineer. The Board of Directors has recommended a dividend of 85 per cent. The company's share gained on the bourses, increasing by Rs 8.5 on BSE during the day, gaining by 1.71 per cent to close at Rs 505.
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