Tata Power announces Q2 net profit of Rs.202.32 Crores

Tata Power Company Ltd has announced the following Audited results for the quarter ended September 30, 2006:

The Company has posted a net profit after tax of Rs 2023.20 million for the quarter ended September 30, 2006 as compared to Rs 1256.70 million for the quarter ended September 30, 2005. Total Income has increased from Rs 10972.10 million for the quarter ended September 30, 2005 to Rs 12791.70 million for the quarter ended September 30, 2006.

Commenting on the performance this quarter, Mr. Prasad Menon, Managing Director of the Company said, "The Company is now in the implementation phase of several new projects and this augurs well for the future growth. 250 MW coal based plant and 100 MW DG Sets for Mumbai are progressing well and we have commenced work on 120 MW Met Coke Project in Haldia, 100 MW wind power plants in Maharashtra and 1000 MW Maithon project. These projects on completion will lead to a step change in the Company's size of operations and will reflect in better operating results in due course. Given our track record of steady execution and widely acknowledged customer service, the Company is aiming to play a primary role in the growth of power sector with a country-wide footprint."

Source : Equity Bulls

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