Tata Power net profit after tax at Rs.2799 million, consolidates position in power sector

Tata Power Company Ltd has announced the following Audited results for the quarter ended December 31, 2006:

The Company has posted a profit after tax of Rs 2799.00 million for the quarter ended December 31, 2006 as compared to Rs 2276.50 million for the quarter ended December 31, 2005. Total Income has decreased from Rs 14013.30 million for the quarter ended December 31, 2005 to Rs 12464.90 million for the quarter ended December 31, 2006.

Commenting on the performance this quarter, Mr. Prasad Menon, Managing Director of the Company said, "The Company has consolidated its leading position in the power sector with the recent winning bid for the Mundra (Gujarat) Ultra Mega Power Project, With the inking of the Chhattisgarh MoU, and several other projects at various stages of implementation across the country, the Company is poised to acquire a significant national footprint and assume a steep growth trajectory. Our track record of steady project implementation and superior service augurs well for our consumers and various stakeholders moving forward."

Source : Equity Bulls

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