On Thursday, Tata Power reported a 92 per cent decline in consolidated net profit at Rs 107.32 crore for the quarter ended March due to an exceptional adjustment in the previous year. he company’s consolidated net profit stood at Rs 1,364.33 crore in the quarter ended March 31, 2018, it said in a statement.
Praveer Sinha, CEO and MD, Tata Power, said, “the Company continues to focus on growth in new businesses. Our renewable business added a capacity of 200 MW and another 400 MW is currently in pipeline. Our solar EPC business possess a healthy order book of Rs 1360 crore.”
Sinha added, “moving forward, the key growth areas identified for the Company include renewables, transmission, distribution and value-added businesses including Rooftop Solar, Smart Metering, EV charging stations and Micro grids in rural areas.”
Tata Power shares settled at Rs 66.75, down 1.48 per cent at BSE Thursday.