Tata Power Co Q2 net up 61%

Mumbai, Nov 27 | Updated: Nov 28 2006, 09:42am hrs
Tata Power Company's (TPC) profit for the second quarter rose by 60.99% at Rs 202.32 crore compared to Rs 125.67 crore during the corresponding period last year. Its revenues were up by 13.81% at Rs 1,200.83 crore from Rs 1,055.11 crore.

TPC's half yearly net increased at Rs 324.17 crore, a rise of 32.82% while revenues up by 19.69% at Rs 2,570.10 crore.

During the second quarter, sales volume increased by 6.11% at 3,545 million units, while units sold in the Mumbai licence area rose by 4.21%.

The Jojobera thermal power station recorded generation of 616 million units as compared to the corresponding quarter's generation of 531 million units.

Following good monsoon this year, TPCs lakes in Maharashtra witnessed effective inflow of 1,781 million cubic meters leading to higher generation from its hydro power plants.

This resulted in optimising the balance between hydro and thermal generation and minimising the pressure of rising fuel costs on its consumers.

TPCs newly appointed managing director Prasad Menon said, The company is now in the implementation of several new projects and this augers well for the future growth. The 250-mw coal based plant and 100 mw DG sets for Mumbai are progressing well and we have commenced work on 120 DG Met Coke project in Haldia, 100 mw wind power plants in Maharashtra and 1,000 mw Maithon project. These projects on completion will lead to a step change in the company's size of operations and will reflect in better operating results in due course.