Tata Power net profit by 14 PC at Rs. 696.80 crs

By Staff
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Google Oneindia News

Kolkata, May 30 (UNI) The Tata Power Company Limited, India's largest private power company, today announced a net profit of Rs 696.80 crore which was up by 14 per cent.

The company release said the reported revenues at Rs 4715.32 crore as compared to Rs 4534.16 crore in the previous year.

Profit After Tax (PAT) witnessed a growth of 14.13 per cent at Rs. 696.80 crore as against Rs 610.54 crores for the previous year.

During the fourth quarter, Tata Power reported profit at Rs.

92.73 crore compared to Rs. 138.82 crore over the corresponding quarter last year on revenues of Rs 947.40 crore and Rs. 1163.80 crore respectively.

The Company has reported 5.9 per cent growth in its annual sales at 14,422 MUs in FY07 against 13,616 MUs. The 500 MW Unit-6 at Trombay Thermal Power Station achieved an all India record of continuous operation of 12,405 hrs. The station completed 50 years of operation in December 2006. During the year, the station received a Golden Shield Award from the Ministry of Power for Best Performance for its Unit 6.

Hydro Stations of Tata Power registered the highest ever generation at 2138 MUs. This was aided by an exceptionally good water level in Tata Power's lakes post a good monsoon season, due to which the company has been able to generate higher electricity from its hydro power plants, thus optimizing the balance between hydro and thermal generation and reducing the pressure of rising fuel costs on the consumers.

Commenting on the Company's performance, Tata Power Managing Director Prasad Menon said, ''The Company has achieved significant milestones this fiscal through higher generation, sales and profitability due to continued focus on optimizing operational efficiencies." UNI

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