Tata Power Q3 profit declines at Rs612 crore, beats estimate
Bengaluru: Tata Power Co. Ltd reported a marginal drop in quarterly profit, but beats analysts’ forecasts.
Profit attributable to owners came in at Rs612 crore in the quarter ended 31 December, compared with a profit of Rs619 crore a year ago, the company said on Wednesday.
Analysts on average expected the Mumbai-based company to post a profit of Rs426 crore, Thomson Reuters data showed.
Revenue from its power business was up 7% to Rs6,685 crore for the quarter.
At 3pm, Tata Power shares traded 0.52% up at Rs87.25 on BSE, while the Sensex was down 0.05% at 34,281.62 points. Reuters