Tata Power advances on reporting net profit of Rs 336 crore in Q2

NEW DELHI: Shares of Tata Power on Wednesday perked up 2.35 per cent to Rs 73.90 after the company reported consolidated net profit of Rs 336.2 crore for the quarter ended September 30, 2016, on better performance by key Indian subsidiaries as well as Indonesian coal mines.

The company had reported a consolidated net loss of Rs 95.80 crore for the corresponding quarter last year.

The stock opened the day at Rs 72.75 and touched a high and low of Rs 74.35 and Rs 71.05, respectively. The benchmark BSE Sensex ended 258.80 points, or 0.98 per cent up at 26,652.81.


The company's consolidated total income from operations (net) declined to Rs 7,208 crore in the quarter under review from Rs 7,666 crore in the year-ago period. Total expenditure of Tata Motors stood at Rs 6,194 crore, up 2.28 per cent from Rs 6,056 crore in the same quarter last year.

The earnings were was announced after market hours on Tuesday.

The promoter holding stood at 33.02 per cent while public held 66.98 per cent as of September 30, 2016.

In a separate filing, the company announced that it has obtained ‘fair valuation’ from one of the investee companies, which include fair valuation of certain other unquoted investments, and used the same for valuation of the investment.

This year, shares of the company have risen 8.41 per cent to Rs 72.20 till November 29, whereas BSE Sensex has gained 0.86 per cent.