Tata Power falls despite reporting marginal rise in Q3 consolidated net profit
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Tata Power Company is currently trading at Rs. 367.05, down by 25.05 points or 6.39% from its previous closing of Rs. 392.10 on the BSE.
The scrip opened at Rs. 380.90 and has touched a high and low of Rs. 386.20 and Rs. 366.30 respectively. So far 3196536 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 412.75 on 09-Feb-2024 and a 52 week low of Rs. 182.45 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 412.75 and Rs. 366.30 respectively. The current market cap of the company is Rs. 117109.19 crore.
The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 26.28% and 26.85% respectively.
Tata Power Company has reported results for third quarter ended December 31, 2023 (Q3FY24).
The company has reported 64.96% fall in its net profit at Rs 527.08 crore for Q3FY24 as compared to Rs 1,504.34 crore for the same quarter in the previous year. Total income of the company decreased by 23.21% at Rs 5,395.50 crore for Q3FY24 as compared Rs 7,026.42 crore for corresponding quarter of the previous year.
On consolidated basis, the company has reported 2.28% rise in net profit at Rs 1,076.12 crore for the third quarter ended December 31, 2023 as compared to Rs 1,052.14 crore for the same quarter in the previous year. Total income of the company increased by 6.19% at Rs 15,294.13 crore for Q3FY24 as compared Rs 14,401.95 crore for corresponding quarter of the previous year.
