Tata Power shares up 2% as firm swings into profit

Shares of Tata Power on Wednesday ended nearly 2 percent higher after the company swung into consolidated net profit of Rs 159.14 crore for the fourth quarter of 2014-15 fiscal.

Mumbai: Shares of Tata Power on Wednesday ended nearly 2 percent higher after the company swung into consolidated net profit of Rs 159.14 crore for the fourth quarter of 2014-15 fiscal.

The stock ended 1.78 percent higher at Rs 77.20 on the BSE. During the day, it gained 5.2 percent to Rs 79.80.

On the NSE, it settled with a rise of 1.58 percent at Rs 77.05.

On the volume front, 10.54 lakh shares of the company changed hands on the BSE and over 99 lakh shares were traded on the NSE during the day.

Tata Power yesterday posted a consolidated net profit of Rs 159.14 crore for the January-March quarter of 2014-15 against a loss of Rs 145.33 crore in the same quarter of previous fiscal.

Total income of the company decreased however to Rs 8,227.14 crore for the quarter, from Rs 8,954.87 crore in the year-ago period.

It posted a net profit after taxes, minority interest and share of profit of associates of Rs 167.83 crore for the year ended March 31, 2015, against a loss of Rs 259.97 crore for the year ended March 31, 2014.

Its total income fell to Rs 34,783.59 crore for the year ended March 31, 2015, from Rs 35,311.24 crore for 2013-14, it added.

In the stock market the BSE benchmark Sensex ended with a gain of 191.68 points at 27,837.21.

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