Tata Power on Friday posted a 94.3 per cent rise in its September quarter profit, with energy consumption remaining robust as economic activity gathered pace.
The energy arm of the Tata group saw consolidated net profit increase to Rs 819 crore for the September quarter of the current fiscal year (Q2FY23) from Rs 422 crore in the corresponding period of the previous fiscal. This was marginally ahead of street estimates which had pegged a net profit at Rs 813 crore, according to a poll by Bloomberg analysts. Sequentially, bottom line was up 3.1 per cent in the quarter, against0 the June quarter.
“Power consumption has rebounded and is seen increasing in the coming months as the monsoons abate,”
