Tata Power Q4 profit more than doubles to Rs 360 crore

Tata Power on Monday said its consolidated net profit more than doubled to Rs 360.25 crore for the quarter ended March 31, 2016 on strong operational performance and lower fuel cost.

The company’s net profit after tax, minority interest and share of associates was at Rs 159.14 crore in the year-ago period, Tata Power said in a BSE filing.

The company said its profit more than doubled mainly “due to strong operational performance and lower fuel cost”.

Total income from operations of the company increased to Rs 9,375.16 crore from Rs 7,907.64 crore in the corresponding quarter of the previous fiscal.

“Operating profit for the quarter was up by 12 per cent at Rs 1,572 crore as compared to Rs 1,408 crore in Q4FY15 mainly due to strong operational efficiencies and lower fuel cost,” the statement said.

source:PTI