Tata Power posts 18% jump in Q4 Profit

Tata Power today reported a consolidated net profit of Rs 1,477.5 crore in the quarter ended March 2018 on account of all-round good performance, mainly coal business and renewables.

For the full fiscal 2017-18, the company’s consolidated net profit stood at Rs 2,679.11 crore, against Rs 1,099.63 crore in the previous fiscal year.

The company’s operating profit for the March quarter rose 18 per cent to Rs 1,445 crore as compared to Rs 1,221 crore a year ago mainly due to renewable business and all round good performance of all businesses.

Its clean energy portfolio grew to 3,417 MW as compared to 3,141 MW last year. In 2018, Tata Power’s consumer base crossed 2.6 million mark across the country and its power generation crossed 53,500 MUs (million units) for the first time in FY’2018.

Tata Power Solar has shown excellent performance and turnaround and has been a significant contributor to company’s robust performance. The renewable portfolio continues to do well and has once again made a healthy contribution to PAT (profit after tax).