Friday, October 30, 2009

Tata Power net down 28 percent

Tata Power Friday reported a 28 percent fall in net profit at Rs.182.1 crore for the second quarter this fiscal as compared to Rs.252.9 crore it logged in the like period last year.

The company's net sales went down 12 percent to Rs.1,721.1 crore during the quarter under review from Rs.1,958.9 crore in the quarter ended Sep 30, 2008.

The power major attributed the fall in sales to to reduction in low fuel prices. The benefit has been passed on to consumers by lowering power rates, it said.

Total income also fell by 16.3 percent to Rs.1,796.6 crore in the second quarter from Rs.2,147.3 crore a year earlier.
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