Tata Power shares up 12 per cent after upgrade
New Delhi: Tata Power on Wednesday posted a 9 per cent rise in its consolidated net profit to Rs 1,017.41 crore in the September quarter, mainly on the back of higher revenues from core business. Its consolidated net profit was Rs 935.18 crore in the year-ago period, according to a regulatory filing. Total income rose to Rs 16,029.54 crore in the July-September quarter from Rs 14,181.07 crore in the same period a year ago. In a statement, the company explained that during the quarter, a significant 84 per cent contribution to the company’s Profit After Tax (PAT) came from the core businesses, while the contributions from overseas joint ventures, including coal mining operations, continued to decline.
