Business Daily from THE HINDU group of publications
Tuesday, Jan 30, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jan 30, 2007 ePaper |
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Corporate Results
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Power
Our Bureau
In the corresponding year-ago quarter, the company completed the sale of Tata Power Broadband, which had resulted in a profit of Rs 131.97 crore. Reversal of taxes provided for earlier contributed to the increase in profits, said a news release from the company The company reported a net profit of Rs 279.9 crore for the quarter, against Rs 227.65 a year ago. Revenues stood at Rs 1,200.5 crore, down from Rs 1,224.77 crore. This was despite sales volumes increasing 9.05 per cent, to 3,655 million units. The company is poised to assume a steep growth trajectory, said Mr Prasad Menon, Managing Director, Tata Power. This is an offshoot of its increasing national presence, including contracts for a mega power project and a 1,000-megawatt project in Chhattisgarh. Its nine-month profit after tax for the fiscal rose 28 per cent to 604 crore while revenues were up 12 per cent, at Rs 3,770 crore. Sales volumes rose 6.75 per cent, to 11,007 million units. North Delhi Power Ltd's aggregate technical and commercial losses stood at 26 per cent in December 2006, against 31.2 per cent a year earlier. The company's shares fell marginally on the bourses, declining by 0.65 per cent on BSE to close at Rs 610.25 on Monday.
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