Mumbai: Tata Power Ltd, India’s third biggest power generator, said profit for the first quarter rose 56%. Net income rose to Rs190 crore ($47 million) in the three months ended 30 June from Rs122 crore in the year-ago period, the company said in a statement to the Bombay Stock Exchange. Revenue rose 12% to Rs1580 crore.
The company is pursuing the setting up a 2,400MW plant in Maharashtra, based on imported coal, to meet the needs of the state.
PTI contributed to the story.