Tata Power has reported a 38 per cent rise in consolidated net profit at Rs 599.2 crore for the third quarter ended December 31.
“The group has posted a net profit after tax, minority interest and share of profit of associates and joint ventures of Rs 599.2 crore for the quarter ended December 31, 2016 as compared to Rs 433.25 crore for the quarter ended December 31, 2015,” Tata Power said in a BSE filing. Total income decreased to Rs 6,604.59 crore in the quarter under review, from Rs 7,324.25 crore in the same period of the previous fiscal.
The company said that the third quarter consolidated net profit was up 38 per cent mainly due to improved performance of key Indian subsidiaries and coal companies coupled with a favourable tax credit.
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