Tata Power shares surge 7% after company posts two-fold jump in March quarter net profit

Shares of Tata Power on Wednesday rallied 7 percent after the company posted a two-fold rise in its consolidated net profit for the January-March quarter compared to the year-ago period

|May 20, 2020, 11:55:47 IST

New Delhi: Shares of Tata Power on Wednesday rallied 7 percent after the company posted a two-fold rise in its consolidated net profit for the January-March quarter compared to the year-ago period.The scrip gained 6.95 percent to Rs 34.60 on BSE, while it surged 6.62 percent to Rs 34.60 on NSE.

Tata Power on Tuesday posted a two-fold jump in its consolidated net profit to Rs 475 crore in the January-March quarter compared to the year-ago period.The company's consolidated net profit was Rs 172 crore in the quarter ended on March 31, 2019, a company statement said.Click here to follow LIVE news and updates on stock marketsConsolidated revenue stood at Rs 6,881 crore in the fourth quarter of 2019-20 compared to Rs 7,597 crore in the corresponding quarter last year mainly due to delay in project execution in solar engineering procurement and construction business on account of COVID-19, lower power demand and lower coal price, it said.

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Tata Power shares surge 7% after company posts two-fold jump in March quarter net profit

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India remains among fastest-growing major economies despite global uncertainty, says RBI Bulletin

Iran war could cut global growth by more than half: World Bank’s chief economist Indermit Gill

Brent crude climbs to $94 as analysts expect oil prices to stay in $90–100 range

UK inflation cools further to 2.6% in June as transport and food prices ease

India's gem and jewellery exports jump 26.5% in June on stronger global demand