Tata Power saw a 177 per cent hike in its net profit for the March-ended quarter on the back of proceeds accrued from the sale of Cennergi investment and reversal of MAT Credit due to transition to new tax regime in the renewables business.
In the March-ended quarter, Tata Power reported net profit of Rs 475 crore, in comparison to Rs 172 crore posted in the same period last year.
During the financial year, Tata Power sold off its investments in Cennergi, which was a joint venture in South Africa, which resulted in gains of Rs 533 crore.
