Comments
Tata Power, on a standalone basis, posted a 16 per cent rise in net profit at Rs 267.71 crore for the fourth quarter ended March 31, 2011, against Rs 230.60 crore logged in the same period last year. Total revenues dipped five per cent to Rs 1,630.22 crore against Rs 1,717.80 crore.
For the fiscal, net profit was up two per cent at Rs 970.01 crore (Rs 947.65 crore). Revenue fell by 4.2 per cent to Rs 6,599.86 crore from Rs 6,893.47 crore. “This decrease is mainly due to a change in the fuel mix leading to reduction in fuel cost compared to the corresponding period last year,” said Mr S. Ramakrishnan, Executive Director-Finance, Tata Power.
Consolidated net profit for the quarter dropped 30 per cent to Rs 662 crore (Rs 943 crore), mainly due to lower foreign exchange gains, besides the year-ago period included a reversal of tax provisions. Total revenues rose four per cent to Rs 4,986 crore (Rs 4,790 crore).
For the financial year 2011, consolidated net profit was up five per cent at Rs 2,059.60 crore (Rs 1,966.85 crore). Consolidated revenues for the full fiscal grew by 2.6 per cent to Rs 19,348.21 crore against Rs 18,854.76 crore.
Mr Ramakrishnan said plans were on to add 2,800 MW during the 2011-12. The capex for this fiscal was about Rs 6,000 crore. Tata Power has a generation capacity of 3,120 MW.
On Thursday, the company's scrip closed 2.6 per cent lower at Rs 1,217.25 on the BSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.