Tata Power shares surge 7% after company posts two-fold jump in March quarter net profit
Shares of Tata Power on Wednesday rallied 7 percent after the company posted a two-fold rise in its consolidated net profit for the January-March quarter compared to the year-ago period
New Delhi: Shares of Tata Power on Wednesday rallied 7 percent after the company posted a two-fold rise in its consolidated net profit for the January-March quarter compared to the year-ago period.
The scrip gained 6.95 percent to Rs 34.60 on BSE, while it surged 6.62 percent to Rs 34.60 on NSE.
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Tata Power on Tuesday posted a two-fold jump in its consolidated net profit to Rs 475 crore in the January-March quarter compared to the year-ago period.
The company's consolidated net profit was Rs 172 crore in the quarter ended on March 31, 2019, a company statement said.
Consolidated revenue stood at Rs 6,881 crore in the fourth quarter of 2019-20 compared to Rs 7,597 crore in the corresponding quarter last year mainly due to delay in project execution in solar engineering procurement and construction business on account of COVID-19 , lower power demand and lower coal price, it said.
Health officials in China said this week that more than one billion people, or 72 percent of the country's 1.4 billion citizens, have been fully vaccinated.
Maharashtra's COVID-19 recovery rate stands at 97.06 percent, while the fatality rate is 2.12 percent
Among the eight regions of Maharashtra, the Pune region reported the highest 1,483 new COVID-19 cases, followed by 970 cases in the Mumbai region