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MUMBAI: Shares of Tata Power jumped 6.9% after the company reported a two-fold year-on-year ump in its January-March consolidated net profit to ₹475 crore.

Consolidated net profit in the year-ago quarter was at ₹172 crore. At 0105 pm, the stock traded 5.4% higher at ₹34.10, while the benchmark Sensex was up 0.9% at 30478.56 points.

Net profit rose due gain on sale of Cennergi investment offset by impairment provision in SED & reversal of MAT credit due to transition to new tax regime in the renewables business, the company said.

According to analysts at Motilal Oswal Financial Services, "divestment related measures could aid cash inflow and subsequent debt repayment.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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