Get latest articles and stories on Latest News at LatestLY. Tata Power on Friday posted a marginal increase of 2 per cent in its consolidated net profit at Rs 1,076 crore in December 2023 quarter. Latest News | Tata Power Net Profit Rises 2 Pc to Rs 1,076 Crore in Q3.
Tata Power on Friday posted a marginal increase of 2 per cent in its consolidated net profit at Rs 1,076 crore in December 2023 quarter.
Its consolidated net profit was Rs 1,052 crore in the quarter ended on December 31, 2022, a company statement showed.
Total revenues also rose to Rs 14,841
Tata Power said TPSSL facilitated financial solutions to over 2,200 Commercial and Industrial customers. These projects are valued at approximately Rs 3,400 crore.
The recent budget unfolds promising fiscal metrics, signaling a shift towards fiscal prudence. With a noteworthy reduction in the fiscal deficit to 5.8% of GDP for the current year and a targeted 5.1% for the next, the government displays a commitment to financial responsibility. This approach extends to the reduction in net borrowings, promising improved funds availability for the private sector.
Tata Power share price: Today's upward move in the share price came after Union Finance Minister Nirmala Sitharaman mentioned Pradhanmantri Suryodaya Yojana in her Budget 2024 speech. "Through rooftop solarisation, 1 crore households will be enabled to obtain 300 units of free electricity every month," she stated.