Tata Power shares rally 7 pc after June quarter results

Shares of Tata Power on Thursday jumped nearly 7 per cent after company said its consolidated net profit rose by 10 per cent for quarter ended June. stock gained 6.89 per cent to Rs 56.60 on BSE. On NSE, it jumped 5.57 per cent to Rs 55.90.

Tata Power on Wednesday said its consolidated net profit rose by 10 per cent to Rs 268 crore for quarter ended June on back of reduced expenses. company h posted a net profit of Rs 243 crore during same period a year ago, it said in a BSE filing.

During April-June, company reported a total income of Rs 6,540 crore as compared to Rs 7,874 crore in year-ago quarter. Total expenses during quarter under review stood at Rs 6,555 crore as against Rs 7,228 crore in year-ago period.