Tata Power shares up nearly 4 percent after first quarterly earnings
Shares of Tata Power rose by nearly 4 per cent today after the company posted over two-fold jump in consolidated net profit for the April-June quarter. The stock gained 3.72 per cent to close at Rs 79.50 on BSE. During the day, it jumped 5.87 per cent to Rs 81.15. At NSE, shares of the company climbed 3.91 per cent to end at Rs 79.55.
On the equity volume front, 6.45 lakh shares of the company were traded on BSE and over 81 lakh shares changed hands at NSE during the day. Tata Power posted over two-fold jump in consolidated net profit to Rs 163.78 crore in the quarter ended June 30, 2017 mainly driven by strong performance from renewable and coal. The company’s consolidated net profit was Rs 72.49 crore in the quarter ended June 30, 2016. Total income of the company was at Rs 6,999.90 crore in the first quarter, up from Rs 6,790.58 crore in the corresponding quarter of the previous fiscal.
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