Tata Power profit jumps in Q2

Mumbai, Nov 29 (IANS) Tata Power on Tuesday reported a jump in its consolidated net profit to Rs 197.96 crore in the quarter ended September 30, 2016 as compared to a loss of Rs 109.82 crore in the year-ago period.

Power producer total income from operations in the quarter under review stood at Rs 7,208.89 crore, down by 5.9 percent to Rs 7,666.33 crore in the same period last year.

During the April-September period of the current fiscal, total income from operations was at Rs 14,047.19 crore, down by 5.4 percent from Rs 14,850 crore in the corresponding period last year.

Net profit during the first six months of the current fiscal was at Rs 138.01 crore, as compared to Rs 237.36 crore in the year-ago period.

The Board of Directors on Tuesday decided to convene an extraordinary general meeting on December 26, 2016 for considering and passing a resolution for removal of Cyrus P. Mistry as director of the company, it said in a regulatory filing to BSE.

–IANS

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