Tata Power soars 7% after Q4 net profit jumps two-fold to ₹475 crore

MUMBAI: Shares of Tata Power jumped 6.9% after the company reported a two-fold year-on-year ump in its January-March consolidated net profit to ₹475 crore.

Consolidated net profit in the year-ago quarter was at ₹172 crore.

At 0105 pm, the stock traded 5.4% higher at ₹34.10, while the benchmark Sensex was up 0.9% at 30478.56 points.

Net profit rose due gain on sale of Cennergi investment offset by impairment provision in SED & reversal of MAT credit due to transition to new tax regime in the renewables business, the company said.