Tata Power Q1FY07 net up by 3 pc

New Delhi, July 31 (UNI) The Tata Power Company Limited (TPCL) today announced 2.91 per cent increase in its net profit at Rs 121.85 crore for first quarter ended June 30, 2006, as against Rs 118.40 crore in corresponding period last fiscal.

The revenue of the company in Q1 also increased from Rs 1098.75 crore to Rs 1376.61 crore during the current financial year, a statement said here.

''The company is now in the implementation phase of several new projects which have been envisioned in the last quarter.

This augurs well for the future growth of the company and will reflect in better operating results in due course. Participation in the Ultra Mega Power Projects and also implementing company's own mega power plants will lead to a step change in the company's size of operations,'' Tata Power Director Adi Engineer said.

The sales volume also rose by 5.25 per cent to 3,807 MUs.

North Delhi Power Limited (NDPL), the joint venture between Tata Power and the State of Delhi for distributing power in the North and North-West parts of national capital, has continued to improve its performance, with its AT&C losses touching an all time low of 28 per cent as on June 2006, down from 53 per cent in June 2002, it added.

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