Tata Power net up to $47.63 mn in first quarter

Fri, Jul 25 04:00 PM

Mumbai, July 25 (IANS) Tata Power Co Ltd Friday announced a net profit $47.63 million (Rs.1.9 billion) during the first quarter this fiscal, compared to $47.5 million (Rs.1.9 billion) in the corresponding period the previous year.

For the latest quarter ending June 30, the total revenues increased to $518.61 million (Rs.20.74 billion) from $394.98 million (Rs.15.79 billion) in the corresponding quarter last year.

According to Tata Power managing director Prasad R. Menon, 'one of the key milestones' for the company was the Supreme Court upholding the company's distribution rights in Mumbai. 'We have been doing this since nine decades,' Menon said.

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