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Performance Highlights

Tata Power's Q2 net profit dips 30%

11/27/2009 12:40:00 PM

Tata Power Company Ltd, India's largest integrated private power utility announced the consolidated financial results for the quarter ended September 30, 2009. Tata Power's net profit, on a consolidated basis for the quarter ended September 30, 2009 dropped by 30% to Rs 367 crore as against Rs 527 crore logged in the year- ago quarter. Net revenues declined to Rs 4,579 crore (Rs 4,637 crore).

Revenue from power business stood at Rs 3,198 crore (Rs 3,219 crore) and coal business was Rs 1,130.77 crore (Rs 1,213.26 crore) respectively, during the corresponding period last year. PBIT for power business was Rs 422.93 crore against Rs 291.65 crore and for coal business stood at Rs 340.39 crore (Rs 412.98 crores).

During the half year ended September 30, 2009, Tata Power's net revenue stood at Rs 9292.35 crore up by 7% as compared to Rs 8706.70 crore in the same period last year. The company reported profit before tax, share of associates, minority interest and statutory appropriations of Rs 1484.17 crore, up by 35% as against Rs 1099.36 crore in the corresponding year.

The company's growth plans include steady capacity addition year-on-year which includes about 318 MW in 2010, 1138 MW by 2011, 1600 MW by 2012 and 2400 MW by 2013. Apart from this, there are several projects in pipeline and under consideration.