Tata Power Q1 profits fall 5 percent

Mumbai, Aug 13 (IANS) Tata Power posted a net profit of Rs.242.42 crore for the first quarter of fiscal 2015-16, a decline of 5 percent in profits from the same quarter in fiscal 2014-15, the company said on Thursday.

According to the audited standalone quarterly results submitted to the Bombay Stock Exchange for the quarter ended June 30, profits dipped by Rs.13.54 crore in Q1 2015-16 compared to the profit of Rs.255.96 crore in the year ago quarter.

Total income from operations also fell by Rs.67.2 crore on a quarter-on-quarter basis.

Total income from operations fell to Rs.2,194.61 crore in Q1 2015-16 from Rs.2,261.81 crore in the last quarter — 2.97 percent.

Total expenses declined to Rs.1,683.33 crore in Q1 2015-16 from Rs.1,935.45 crore in the same quarter last year.

According to the consolidated results for the analysed quarter, net profit rose by 216.82 percent in Q1 2015-16 with a profit of Rs.241.33 crore.

Tata Power posted a loss of Rs.111.30 crore in the last quarter.

On a consolidated basis, total income from operations rose to Rs.9,234.58 crore in the April-June quarter of 2015-16 from Rs.8,707.53 crore in the last quarter, a rise of Rs.527.05 crore at the rate of six percent.

Total expenses also rose to Rs.7,632.77 crore from Rs.7,585.83 crore in Q1 2014-15.

Tata Power has an installed power generation capacity of 8,669 MW in India across power generation segments of thermal, hydro, solar and wind.

Tata Power operates and has investments in Indonesia, Singapore, South Africa and Australia among other countries.

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