Team Blitz India
MUMBAI: Tata Power Company Limited(Tata Power), on August 10, declared a consolidated net profit of Rs1,140.97 crore for the first quarter of FY 24, registering an on-year growth of 29 percent over a consolidated profit of Rs 883.54 crore last year.
On a sequential basis, the consolidated profit is 21.5 percent higher than the profit of Rs 938.81 crore earned during the previous quarter ended March 31.
The consolidated revenue from operations for the Tata Group company remained almost flat with an increase of only 1.5 percent at Rs14,982.55 crore compared to Rs14,752.69 crore during the same period last year. The company attributed the flat show to higher sales across distribution companies and capacity addition in renewables.
Sequentially, the consolidated revenues increased 17.6 percent from Rs12,737.37 crore recorded during the preceding quarter.