Tata Power Q4 PAT slips 49.7%

New Delhi, May 30 (UNI) Tata power today announced its quarterly result with a profit after tax (PAT) showing a decline of 49.70 per cent at Rs 92.73 crore for the quarter ended March 31, 2007 as compared to Rs 138.82 crore for the quarter ended March 31, 2006.

For the FY06-07 the Company saw a growth of 14.13 per cent in its profit after tax (PAT) at Rs 696.8 crore as compared to Rs 610.54 crore last fiscal.

Total Income has increased by 3.94 per cent to Rs 5,059.31 crore for the year ended March 31, 2007 compared to Rs 4,859.77 crore for the year ended March 31, 2006.

''The company has achieved significant milestones this fiscal through higher generation, sales and profitability due to continued focus on optimising operational efficiencies.

This has been achieved inspite of the rising operating costs,'' said the company Managing Director Prasad Menon.

The company aims to focus its efforts towards aggressive growth by tripling its generation capacity over the next five years, while setting industry benchmarks through enhanced efficiency, he added.

The Company is charting out aggressive growth plans for addition of 7,000 MW of thermal generation capacity in the next five years along the West coast of India based on imported coal and around 3,000 MW of generation capacity based on domestic coal from coal producing states of Jharkhand, Chhattisgarh, and Orissa.

The company has also signed definitive agreements to purchase 30 per cent equity stakes in two major Indonesian thermal coal producers, PT Kaltim Prima Coal 'KPC' and PT Arutmin Indonesia 'Arutmin' for a consideration of 1.1 billion dollar prior to working capital and other adjustments.

The acquisition specifically addresses fuel requirements for Mundra UMPP, Trombay and the coastal power project in Maharashtra, said a statement.

UNI