Mumbai, May 29: The Tata Power group has posted a 33.36 per cent drop in consolidated net profit at Rs 324.78 crore in the financial year ended March 31, 2003, compared to Rs 487.42 crore reported in the previous fiscal. The board has recommended a 65 per cent dividend (Rs 6.50 per share) for the year under review, with a total outgo of Rs 145 crore (55 per cent dividend in FY'02), Tata Power managing director Firdose Vandrevala told newspersons here on Wednesday.
Total income on a consolidated basis, however, increased to Rs 4,953.31 crore in FY '03 from Rs 4,120.85 crore posted last year, Vandrevala said.
On a standalone basis, Tata Power Company recorded a higher net profit at Rs 519.92 crore (Rs 508.23 crore in FY ‘02), while its total income rose to Rs 4,452.53 crore (Rs 4,067.71 crore), he said.
For the fourth quarter, net profit and total income rose to Rs 155.27 crore (Rs 67.86 crore) and Rs 943.28 crore (Rs 905.69 crore), he added.
Bureau Report