Tata Power net profit in Q2 jumps to Rs 393.36 crore

Its total income stood at Rs 7,437.18 crore in the quarter ended September 2018. It was Rs 7,006.74 crore in the second quarter of 2017-18, Tata Power said in a BSE filing.

Tata Power Monday reported an 85.11 per cent jump in consolidated net profit at Rs 393.36 crore for the quarter ended September 2018, mainly on account of regulatory income of Rs 274 crore in respect of earlier years.

The company had reported a net profit of Rs 212.5 crore in the corresponding quarter last year.

Its total income stood at Rs 7,437.18 crore in the quarter ended September 2018. It was Rs 7,006.74 crore in the second quarter of 2017-18, Tata Power said in a BSE filing.

The company said during the quarter ended September 2018, pursuant to receipt of true-up tariff order from the regulatory commission for the years 2014-15, 2015-16 and 2016-17, it has recognised net income of Rs 92 crore comprising of a credit of Rs 274 crore in regulatory income and a charge of Rs 182 crore to revenue from operations.

Shares of Tata Power were trading 14.29 per cent higher at Rs 78.80 apiece on the BSE.

(With inputs from agencies.)