India's Tata Power Q1 net 1.90 bln rupees vs 1.22 bln UPDATE |
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Fri, 27 Jul 2007 09:00
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(adds MD quote, detail on projects and sales volume)MUMBAI (Thomson Financial) - India's largest private sector power utility, Tata Power Company Ltd, said its net profit for the first quarter ended June 30 rose to 1.90 bln rupees against 1.22 bln in the year-ago period.The company said during the quarter its total income, including net sales and other income, rose to 15.80 bln rupees compared with 14.09 bln the year earlier.It said sales volume rose 7 pct year-on-year to 4,056 mln units (mu) as against 3,807 mu, with its Mumbai licensed area witnessing a growth of 9 pct in the quarter.Tata Power said the work on its 4,000 megawatts Mundra ultra mega power project, in the western Indian state of Gujarat, is on schedule and the company has signed a contract with Korea's Doosan Heavy Industries & Construction Co Ltd to complete the construction of a boiler island.Prasad R Menon, Tata Power's managing director, said the acquisition of a 30 pct stake in Bumi Resources in Indonesia will help in securing long-term fuel requirements, thereby driving profitable growth.TFN.newsdesk@thomson.comyos/jro/slmCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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