Tata Power shares surge 7 pc on 2-fold jump in Q4 profit

The scrip gained 6.95 per cent to Rs 34.60 on BSE, while it surged 6.62 per cent 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.

Consolidated 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.