Tata Power’s net profit increases by 10 per cent to Rs 3.71 billion in September quarter

Tata Power has reported a 10 per cent increase in consolidated net profit at Rs 3.71 billion for the quarter ended September 2020 as compared to Rs 3.39 billion in quarter ended September 2019.

On a consolidated basis, Tata Power Group’s revenue was up by 15 per cent at Rs 84.13 billion as compared to Rs 73.29 billion last year. Reportedly, the rise in revenue was mainly due to the acquisition of TP Central Odisha Distribution Limited (TPCODL) and higher solar engineering, procurement and construction revenue. Further, Tata Power Solar booked 347 MW of new solar/hybrid bids. The company’s solar EPC order book stands at Rs 86.87 billion.