Tata Power Q3 net profit falls to Rs 611 crore

Private power producer Tata Power reported a net profit of Rs 611 crore, witnessing a marginal decline in profit on a year-on-year basis. Even as expenses for the company rose higher than revenue from operations, the company gained from deferred tax benefits. For the October-December 2017 quarter, the company reported a net profit of Rs 611 crore attributable to the owners of the company, with a one percent decline from Rs 619 crore reported in the same quarter a year ago. Total expenses for the quarter under review rose 9% to Rs 7,183 crore, from Rs 6,603 crore reported in the same period a year ago. Revenue from operations, at the same time, rose 6% to Rs 6,949 crore against Rs 6,574 crore in the corresponding quarter last year. The company also reported deferred tax to the extent of Rs 272 crore on indexation benefit, available on certain investments that have been classified as an asset held for sale.