Tata Power net profit up 61%

MUMBAI: Tata Power (TPC) has recorded a 61% rise in net profit at Rs 202.32 crore for the quarter ended September 30, ’06, as compared with the year-ago period, while revenues increased by 14% at Rs 1,200.83 crore.

Overall sale of electricity moved up 6% to 3,545 million units (MUs), while units sold in the Mumbai licence area showed an increase of 4%. The Jojobera thermal power station has recorded generation of 616 MUs as compared to 531 MUs for the corresponding quarter last year.

Good monsoons have helped TPC generate more hydro power, and bring down fuel cost. TPC has reported a 33% growth in net at Rs 324.17 crore for the first half of this fiscal while revenue rose 20% at Rs 2,570.10 crore. Sales volume increased by 6% to 7352 MUs and generation by 2.4% at 7,346 MUs. TPC has commenced work on 120-mw met coke project in Haldia, 100-mw wind power plants in Maharashtra and 1,000-mw Maithon project.