Tata Power Q2 Results: Net profit up nearly 7% at Rs 876 crore, meets analysts' estimates

Nov 08 2023 06:49 PM IST
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Tata Power on Wednesday reported a consolidated net profit of Rs 875.5 crore for the July-September period. Its revenue grew 12.2 per cent on a year-on-year basis to Rs 15,738 crore. The Tata group power generation company's net profit fell short of analysts' estimates though its revenue was almost in line with their expectations.

Tata Power on Wednesday reported a consolidated net profit of Rs 875.5 crore for the July-September period, an increase of 6.9 per cent compared with the corresponding quarter a year ago.Its revenue grew 12.2 per cent on a year-on-year basis to Rs 15,738 crore for the quarter ended September 30, according to a regulatory filing.The Tata group power generation company’s net profit fell short of analysts’ estimates though its revenue was almost in line with their expectations.TRENDING NOWTikTok owner ByteDance offers to buy back shares from staff at $160 apieceAshok Leyland Q2 result preview: PAT likely to rise three-fold; revenue likely to grow two-foldGensol Engineering shares jump 4% after second-quarter profit doublesDelhi government announces early winter break in schools from November 9-18 due to air pollutionBiocon Q2 Results Preview: Biocon likely to bank on Viatris acquisition; sales, margin may soar considerablyFlipkart Big Diwali Sale 2023: Samsung smartphones under Rs 15,000PGInvIT posts Rs 315 crore profit in Q2Tata Power shares in green ahead of Q2 results; net profit seen growing 18%Multibagger stock Rushil Decor shares rise over 6% on fundraising announcementDiwali 2023: Five smart ways you can use your Diwali bonus moneyPage Industries Q2 preview: Profit likely to take a hit amid softness in demandPower Grid share price Q2 FY24 Results profit revenue EBITDA growth PoweGrid share price NSE BSECAMS Q2 Results: Profit rises 17% to Rs 84.5 croreVistara announced festival sale: Domestic fares start from Rs 1,999 – know details hereDividend stock: Ingersoll Rand announces 500% payout—Check out record date, payment dateAccording to Zee Business research, Tata Power was estimated to register an 18 per cent rise in consolidated net profit to Rs 970 crore and revenue of Rs 15,800 crore for the fiscal second quarter.Tata Power shares ended 2.1 per cent higher at Rs 254.9 apiece on BSE ahead of the earnings announcement.Tata Power shares strengthened 18.2 per cent in the September period, better than a 1.7 per cent rise in the headline S&P BSE Sensex index and in line with a 16.2 per cent gain in the S&P BSE Power sectoral gauge.Catch lateststock market updateshere.

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