Tata Power Q2 net vaults 88.5% to Rs336 crore
29 October 2018
Tata Power Co Ltd has reported an 88.46 per cent jump in its fiscal second quarter net profit to Rs336 crore on the back of higher revenues from its power business.
The company had reported a net profit of Rs178 crore for the year-ago quarter ended 30 September 2017.
The power generator and distributor said revenue from operations rose 6.7 per cent to Rs7,333 crore, with revenue from power business rising nearly 8 per cent.
The company had incurred a one-off charge of about Rs149 crore in the same quarter of the previous fiscal year.
Meanwhile, Tata Power has installed two additional charging stations in Mumbai. The two stations are located at Palladium Mall (Lower Parel) and Phoenix Marketcity (Kurla) as part of its efforts to support the government's plan of making India an all-EV nation by 2030.
The power company has also confirmed that it's in the process of setting up two more charging stations in Bandra-Kurla Complex (BKC) and on the Western Express Highway at Borivali.
It may be noted that Tata Power had installed Mumbai's first EV charging dock at Vikhroli last year.
Tata Power says the chargers are compatible with battery electric vehicles such as the Mahindra e2o and the Nissan Leaf. The chargers are also capable of monitoring charging status as well as units consumed for charging.