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Power distributor, Tata Power, on Friday reported a fall of 43.6 percent in its September quarter net profit to Rs 268.5 crore. The bottomline was dragged largely because of a one-time loss of Rs 148 crore.
The company’s revenues grew by 6 percent at Rs 7,657 crore against Rs 7,213 crore year on year.
The company posted good operational performance as earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 27.3 percent at Rs 1,850 crore against Rs 1,453 crore year on year. Meanwhile, the operating profit was reported at 24.2 percent against 20.1 percent.
"Renewable business profits jumped by 200 percent to Rs 173 crore in Q2 FY18 from Rs 86 crore in Q2 FY17 led by profits from the renewable acquisition," Tata Power said.
The company's board also approved issuance of NCDs up to Rs 3,500 crore for a tenure not exceeding 15 years on a private placement basis.
At 13:50 hrs Tata Power Company was quoting at Rs 85.45, up Rs 0.70, or 0.83 percent, on the BSE. It touched an intraday high of Rs 88.40 and an intraday low of Rs 85.05.
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