Mumbai:Tata Power Company Ltd on 31 May 2007 reported a 33.2% decline in profit after tax at Rs92.73 crore for the quarter ended 31 March 2007 compared to Rs138.82 crore in the corresponding period last year.
Total income decreased 9.12% to Rs1,126.11 crore for the fourth quarter from Rs1,239.23 crore in the year-ago period, the company informed the Bombay Stock Exchange.
The Board of Directors has recommended a dividend of 95% that is Rs9.50 per share for the year ended 31 March, it said.
For the year ended 31 March 2007, the company posted a profit after tax of Rs696.80 crore as compared to Rs610.54 crore last fiscal.
Total income increased to Rs5059.31 crore for FY 2007 from Rs4859.77 crore in FY 2006.
“The company has achieved significant milestones this fiscal through higher generation, sales and profitability due to continued focus on optimising operational efficiencies. This has been achieved inspite of the rising operating costs,” company’s managing director Prasad Menon said.
“We continue to consolidate our power business through capacity expansion and foray into new markets. The company aims to focus its efforts toward aggressive growth by tripling its generation capacity over the next five years, while setting industry benchmarks through enhanced efficiency,” he added.