NEW DELHI: Tata Power’s consolidated net profit for the March 2019 quarter fell 92% to ₹107.32 crore, compared to ₹1364.33 crore in the year-ago period. The March 2018 quarter had been boosted by a one-time writeback in impairment of ₹1886 crore on the troubled Mundra ultramega power plant. Revenue over the same periods remained flat at ₹7230 crore.
The company, with installed capacity of nearly 11GW, reported EBITDA for the quarter that was up 35% at ₹1,879 crore as compared to ₹1,391 crore in Q4FY18, mainly driven by Mundra plant and the renewable business.
The renewable business, which focuses mostly on solar power production and EPC services, grew Q4 FY19 EBITDA increasing by 34% on quarter on quarter basis to ₹606 crore with higher operational revenues and EPC volume.
