Tata Power shares close 6 pc higher after June quarter results

In traded volume terms, 50.49 lakh shares were traded on the BSE and over 11 crore units on the NSE during the day. Tata Power on Wednesday said its consolidated net profit rose 10 per cent to Rs 268 crore for the quarter ended June on the back of reduced expenses.

Shares of Tata Power on Thursday closed the day with 6 per cent gains after the company said its consolidated net profit rose 10 per cent for quarter ended June. The stock closed 5.95 per cent higher at Rs 56.10 on the BSE. During the day, it gained 9.25 per cent to Rs 57.85.

On the NSE, it jumped 5.66 per cent to close at Rs 55.95. In traded volume terms, 50.49 lakh shares were traded on the BSE and over 11 crore units on the NSE during the day.

Tata Power on Wednesday said its consolidated net profit rose 10 per cent to Rs 268 crore for the quarter ended June on the back of reduced expenses. The company had posted a net profit of Rs 243 crore during the same period a year ago, it said in a BSE filing.

During April-June, the company reported a total income of Rs 6,540 crore as compared to Rs 7,874 crore in the year-ago quarter. Total expenses during the quarter under review stood at Rs 6,555 crore as against Rs 7,228 crore in the year-ago period.