Shares of Tata Power dipped 9 per cent to Rs 223 on the BSE in Monday’s intra-day trade on the back of heavy volumes despite the company reported strong March quarter (Q4FY22) results. The company reported 76 per cent year on year (YoY) increase in consolidated profit after tax (PAT) before exceptional items at Rs 775 crore while consolidated revenue grew 16 per cent YoY at Rs 12,085 crore.
The company received approval for merger of Coastal Gujarat Power Limited (CGPL) into Tata Power and signed binding agreement for investment in India’s most comprehensive renewable energy platform.
