Business Daily from THE HINDU group of publications
Tuesday, Aug 01, 2006
Business Daily from THE HINDU group of publications Tuesday, Aug 01, 2006 |
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Corporate Results
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Power
Our Bureau
Mumbai , July 31 Tata Power Company has reported a net profit of Rs 121.85 crore for the first quarter ended June 30, 2006. This is marginally higher than the net profit of Rs 118.40 crore during the corresponding year-ago quarter. Revenues were up 25 per cent, and amounted to Rs 1,377 crore (Rs 1,099 crore). Sales volumes showed an increase of 5.25 per cent, at 3,807 million units. Depreciation of rupee led to interest and finance charges being higher by Rs 14.13 crore. NDPL cut its AT&C losses to 28 per cent down by 53 per cent four years ago. During the quarter, orders have been placed for a 50 Mega Watt wind farm at Khandke, Ahmednagar. Two 1,000 MW coastal power plants in Maharashtra are being pursued and actions are in hand to acquire the required land. Coal linkage up to 100 per cent for a 1,000 MW coal-based Power Project at Chola (UP) has also been achieved. This mega power plant will also supply power to Northern States including New Delhi Power Ltd, the joint venture between Tata Power and the State of Delhi. "The company is now in the implementation phase of several new projects, which have been envisioned in the last quarter. This augurs well for the future growth of the Company and will reflect in better operating results in due course," said Mr Adi Engineer, Director, Tata Power.
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