Consolidated sales during the period rose 48.3 per cent to Rs 954.62 crore against Rs 643.57 crore in the previous year. Total expenditure increased by 51 per cent during the period to Rs 747.52 crore from Rs 495.13 crore in the previous year.

The high court of Bombay on Wednesday sanctioned the scheme of amalgamation of the three Tata Electric Companies, which will together be called the Tata Power Company. This merger would enable Tata Power to have a much stronger balance sheet and target larger projects in future. The merger is also expected to further accelerate the growth of Tata Power.

The Tata Power Company Ltd reported a marginal 2.7 per cent growth in net profit to Rs 66.81 crore during the quarter against Rs 65.07 crore last year. Sales increase 51.76 per cent to Rs 488.32 crore from Rs 321.78 crore last year.

The Andhra Valley Power Supply Company has registered a net profit of Rs 40.34 crore, a growth of 11.3 per cent over Rs 36.26 crore in the previous year. Sales rose 45 per cent from Rs 193.07 crore in the last quarter to Rs 279.79 crore.

The third company, Tata Hydro-Electric Power Supply Company clocked a net profit of Rs 31.10 crore against Rs 26.58 crore last year, representing a growth of 17 per cent. Sales increased by 45 per cent from Rs 128.72 crore to Rs 186.52 crore.