Tata Power Company Limited''s (TPC) operating profits rose
by 19 per cent on the back of increased generation and
sales of 13 per cent. Increased sales include additional
sales to MSEB and MPEB. Overall, Mumbai demand grew by
7per cent. Cost control efforts continued within the company.
This included better scheduling and management of the
generating units, favourable fuel mix and better heat
rates, resulting into lower charges to consumers.
operating profits increased by 19 per cent, PBT increased
by 25% due to reduction in interest and finance charges
by 23 per cent.
the wind farm was taken out of the licensee business as
per MERC order, there was a creation of additional Deferred
Tax in respect of previous years aggregating to Rs.20
crores, restricting the PAT increase to 2.2 per cent.
The financial results include reduction in tariff by 9.2%
as per MERC order.
from non-power business increased by 63 per cent to Rs.43.4
effect from 1st July 2004, the Broadband division of TPC
has become a 100 ]er cent subsidiary.
Petrodyne, a 100 per cent subsidiary of TPC also brought
in good results. Revenues increased to Rs.30 crore and
PAT increased by 17 per cent to Rs.15.5 crore.
Transmission Limited : The 51 per cent joint venture with
Power Grid Corporation achieved financial closure and
received first disbursement from all lenders in May 2004.
The company has opened site offices in 8 locations. The
construction of the Transmission lines has commenced and
is on schedule.
North Delhi Power Limited : (distribution joint venture
company in north Delhi) Performance continued to improve
and as per regulatory targets. Aggregate Technical &
Commercial (AT&C) losses in this quarter decreased
by 7 percentage points over the corresponding period last
year. Reliability Index is now at 99.61 per cent.
on the company''s performance, Firdose Vandrevala, managing
director, Tata Power said: "The Q1 performance reflects
both the benefit of increased sales and better internal
efficiencies. Our efforts to provide reliable power and
controlling costs are showing results. During the quarter,
the benefit of our improved efficiencies were reflected
in lower charges to our consumers. A new
regulatory order for tariff has come into effect from
1st June 2004. The company is confident of the future
and is pursuing several opportunities in India and abroad."