Tata Power third quarter net profit soars 22% to Rs 318 crore
New Delhi: Tata Power on Thursday posted over 22 per cent rise in consolidated net profit at Rs 318.41 crore for December quarter 2020-21, mainly on the back of higher revenues.
The net profit in the year-ago period was Rs 260.10 crore, Tata Power said in a BSE filing.
Total income rose to Rs 7,702.84 crore in the quarter from Rs 7,136.04 crore in the same period a year ago.
The company said it does not expect much impact of the pandemic on its business.
"The management believes that there is not much of an impact likely due to this pandemic except that there exists some uncertainty over impact of COVID-19 on future business performance of some joint ventures involved in the coal mining and an associate engaged in providing engineering, procurement and construction services," it added.
However, the said uncertainty is not likely to impact the recoverability of the carrying value of its investment in such joint ventures and associate.
As the situation is still continuously evolving, the eventual impact may be different from the estimates made as of the date of approval of these consolidated financial statements, it added.
