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Tata Power June-quarter profit more than doubles
August 14, 2017 / 8:52 AM / a month ago

Tata Power June-quarter profit more than doubles

High-tension power lines are pictured outside a Tata Power sub station in the suburbs of Mumbai, India, August 8, 2017. REUTERS/Shailesh Andrade

(Reuters) - Tata Power Co Ltd’s (TTPW.NS) first-quarter profit more than doubled, helped by higher income from its core power generation business.

Profit came in at 1.64 billion rupees ($25.6 million) in the quarter ended June 30, compared with a profit of 724.9 million rupees a year earlier, the company said on Monday. (bit.ly/2wIinz8)

Income from its power business grew about 6 percent to 10.01 billion rupees for the quarter.

Shares of the company were trading 5.5 percent higher after the results.

($1 = 64.0500 Indian rupees)

Reporting by Krishna V Kurup and Arnab Paul; Editing by Amrutha Gayathri

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