Mumbai: Private power generator Tata Power reported an 86% plunge in net profit in the first quarter of the financial year. Consolidated net profit for the April-June 2019 period was ₹230.8 crore, compared to ₹1735.12 crore in the year-ago period. Also, the June 2018 quarter profit was boosted by gain in sale of Tata Power’s investments Tata Communications and Panatone Finvest. Consolidated revenue rose 6% in the June 2019 period to ₹7874.64 crore. Operating revenue from thermal power generation rose 29% year-on-year to ₹815.73 crore while from renewables its rose 12% to ₹449 crore and 8% from transmission ₹519 crore.

Source: Mint August 01, 2019 15:22 UTC