Tag: tata power

Tata Power shares surged as much as 9 per cent to Rs 57.9 on the BSE on Thursday after the firm reported a 10 per cent on-year rise in consolidated net profit at Rs 268 crore in the April-June quarter on the back of reduced expenses. The company had posted a net profit of Rs 243 crore in the corresponding quarter of the preceding year. Revenue from operations fell 16.9 per cent YoY to Rs 6,453 crore in the first quarter of FY21Its consolidated profit before tax (PBT) and exceptional items for the June quarter dipped 31 per cent to Rs 480 crore, as against Rs 605 crore PBT posted in Q1FY20.In a span of three months, Tata Power share price has rallied 114 per cent from Rs 27 apiece to Rs 57.85. The company also announced its three wholly-owned subsidiaries, Coastal Gujarat Power Ltd (CGPL), Tata Power Solar Systems (TPSSL) and Af-Taab Investment Company (Af-Taab) are proposed to be merged with the parent company for greater synergies in the financing, compliance, and oversight. Read more

The share price of Tata Power Company jumped 10 per cent intraday on April 7 after the company received a Rs 1,730-crore project from NTPC. It has got a letter of award to build a 300-megawatt plant for state-owned utility major NTPC at an all-inclusive price of Rs 1,730 crore. In September 2019, post reverse auction, the company had received LoA to develop a 105 MWp Floating Solar Project worth approximately Rs343cr including 3 years O&M. The commercial operation date (COD) for this grid-connected solar photovoltaic project is September 2021. With this project, the order book of Tata Power Solar stands at Rs 8,541 crore, including external and internal orders. The stock, which slipped 28 per cent in the last month, was quoting at Rs 33.65, up11.61 per cent.