New Delhi, Aug 1 () Tata Power’s consolidated net profit declined by 86 per cent to Rs 230.80 crore in the April-June quarter of 2019-20 mainly due to exceptional gains in the same quarter of last year, according to a regulatory filing.
The company had posted a consolidated net profit of Rs 1,735.12 crore for the quarter ended on June 30, 2018, boosted exceptional gains of Rs 1,897.24 crore from the sale of non-core investment.
Tata Power said that the consolidated net profit before exceptional items stood at Rs 254 crore in the June quarter against Rs 252 crore in the year-ago period due to lower losses in Mundra on account of lower price of coal, new capacity addition in renewables, favourable regulatory order in Maithon and steady operational performance across all segments.
