Tata Power Q3 Results: Net profit rises nearly 1% to Rs 953 crore, better than analysts estimates
Tata group electricity generator Tata Power reported its financial results for the October-December period (Q3 FY24) on Friday, February 9.
Tata group electricity generator Tata Power on Friday reported a consolidated net profit of Rs 953 crore for the October-December period, up 0.8 per cent on a year-on-year basis. The quarterly net profit was better than analysts' estimates.
The company registered revenue of Rs 14,651 crore for the fiscal third quarter, as against Rs 14,129.1 crore for the corresponding period a year ago, according to a regulatory filing.
According to Zee Business research, Tata Power's quarterly net profit was estimated at Rs 865 crore and revenue at Rs 15,700 crore.
Tata Power shares ended weaker by Rs 15.5, or 3.8 per cent, at Rs 392.1 apiece on BSE ahead of the earnings announcement.
Tata Power shares: Past performance
As of February 8, Tata Power shares had rewarded investors with a 96.8 per cent return in the past year, sharply outperforming a 21.5 per cent rise in the headline Nifty50 index.
The Tata Power stock grew 26.6 per cent in the December quarter while the benchmark index rose 10.7 per cent.
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