Tata Power off from the days high even as management expects four-fold jump in profit by 2027

Tata Power Company Ltd share price traded positive on Monday in an otherwise strong market and days after the Tata Group firm had declared its July-September quarter results on Friday, October 28, 2022.

Tata Power stock price quoted at Rs 226 apiece on BSE at 10.34 am, after opening at the day's high of Rs 229.65. The stock hit the day's low at Rs 224.50.

Tata Power declared a consolidated profit of Rs 935.18 crore for the September quarter, registering an year-on-year (YoY) growth of 85 percent. It had reported a consolidated profit of Rs 505.66 crore a year ago in the same period.

Tata Power's total revenue came in at Rs 14,030.72 crore, registering a 49 per cent increase on YoY basis. It had reported total income from operations at Rs 9,810.22 crore during the same period last year.

Praveer Sinha, Chief Executive Director and Managing Director, Tata Power told Zee Business that it expects the firm to post a four-fold jump in profit by 2027 and an improvement in margin in the next quarterly result itself.