NEW DELHI: Tata Power on Thursday reported a 92 in keeping with cent decline in consolidated net profit at Rs 107.32 crore for the quarter ended March due to an outstanding adjustment in the earlier year. The company's consolidated net profit stood at Rs 1,364.33 crore in the quarter ended March 31, 2018, it stated in a statement.
However, the company added that the consolidated net profit in the fourth quarter prior to the exceptional merchandise stood at Rs 259 crore, up 119 in keeping with cent from Rs 118 crore in the year-ago duration.
Tata Power had made provision for impairment of investment in Mundra and Georgia companies in the fourth quarter of 2017-18.
Total source of revenue of the company in the fourth quarter was once Rs 7,416.89 crore in comparison to Rs 7,281.02 crore a year in the past.
For 2018-19, consolidated net profit came in at Rs 2,440.41 crore as in opposition to Rs 2,610.85 crore in the earlier fiscal.
Total source of revenue all over the fiscal was once at Rs 29,954.47 crore as in comparison to Rs 27,272.96 crore earlier.
The board of administrators at its meeting hung on Thursday additionally proposed a dividend of Rs 1.30 in keeping with fairness percentage of face price of Re 1 every.
The Annual General Meeting (AGM) of the company is scheduled to be hung on June 18, 2019.
"The company continues to focus on expansion in new companies. Our renewable industry added a capacity of 200 MW and any other 400 MW is currently in pipeline. Our solar EPC industry possess a wholesome order guide of Rs 1360 crore...
"With regard to CGPL, we are in discussion with quite a lot of state governments and state discoms and are expecting a resolution for it quickly. It will then be submitted to CERC for approval.
"Moving forward, the key growth areas identified for the company include renewables, transmission, distribution and value-added businesses including Rooftop Solar, Smart Metering, EV charging stations and Micro grids in rural areas," stated Praveer Sinha, CEO and MD, Tata Power.
Tata Power shares settled at Rs 66.75, down 1.48 in keeping with cent at BSE on Thursday.
However, the company added that the consolidated net profit in the fourth quarter prior to the exceptional merchandise stood at Rs 259 crore, up 119 in keeping with cent from Rs 118 crore in the year-ago duration.
Tata Power had made provision for impairment of investment in Mundra and Georgia companies in the fourth quarter of 2017-18.
Total source of revenue of the company in the fourth quarter was once Rs 7,416.89 crore in comparison to Rs 7,281.02 crore a year in the past.
For 2018-19, consolidated net profit came in at Rs 2,440.41 crore as in opposition to Rs 2,610.85 crore in the earlier fiscal.
Total source of revenue all over the fiscal was once at Rs 29,954.47 crore as in comparison to Rs 27,272.96 crore earlier.
The board of administrators at its meeting hung on Thursday additionally proposed a dividend of Rs 1.30 in keeping with fairness percentage of face price of Re 1 every.
The Annual General Meeting (AGM) of the company is scheduled to be hung on June 18, 2019.
"The company continues to focus on expansion in new companies. Our renewable industry added a capacity of 200 MW and any other 400 MW is currently in pipeline. Our solar EPC industry possess a wholesome order guide of Rs 1360 crore...
"With regard to CGPL, we are in discussion with quite a lot of state governments and state discoms and are expecting a resolution for it quickly. It will then be submitted to CERC for approval.
"Moving forward, the key growth areas identified for the company include renewables, transmission, distribution and value-added businesses including Rooftop Solar, Smart Metering, EV charging stations and Micro grids in rural areas," stated Praveer Sinha, CEO and MD, Tata Power.
Tata Power shares settled at Rs 66.75, down 1.48 in keeping with cent at BSE on Thursday.
Tata Power Q4 net profit drops 92% to Rs 107.32 cr
![Tata Power Q4 net profit drops 92% to Rs 107.32 cr]()
Reviewed by Kailash
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May 03, 2019
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