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  1. Tata Power shares gain on robust Q4 profit

Tata Power shares gain on robust Q4 profit

Tata Power shares jumped as much as 2.82 per cent on Tuesday after the company reported 126.37 per cent rise in consolidated net profit figures at Rs 360.25 crore for the quarter ended March 2016

By: | New Delhi | Updated: May 24, 2016 5:07 PM
tata power Tata Power shares jumped as much as 2.82 per cent on Tuesday after the company reported 126.37 per cent rise in consolidated net profit figures at Rs 360.25 crore for the quarter ended March 2016 (Reuters)

Tata Power shares jumped as much as 2.82 per cent on Tuesday after the company reported 126.37 per cent rise in consolidated net profit figures at Rs 360.25 crore for the quarter ended March 2016 against Rs 159.14 crore in the same quarter last year.

The company said its profit more than doubled mainly “due to strong operational performance and lower fuel cost”.

Consolidated operating profit of the company jumped 16.65 per cent year-on-year to Rs 1,886.51 crore in the quarter under review against Rs 1,617.20 crore in the same quarter last year.

Net sales of the company increased to Rs 9,333.52 crore from Rs 7,835.11 crore in the corresponding quarter of the previous fiscal.

The share price of Tata Power settled 1.41 per cent up at Rs 71.70.

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