Tata Power consolidated profit at Rs 262 cr

Country's largest private power producer Tata Power on Friday said its consolidated profit after appropriations stood at Rs 262.67 crore in the three-month period ended on December 31 this fiscal.

"The consolidated net profit of the company after appropriations stood at Rs 262.67 crore in third quarter (October-December) as against Rs 442.37 crore in the same three month period a year ago", the company said in filing to National Stock Exchange.

The company said results are not comparable due to a change in accounting standards.

On consolidated basis , Tata Power's net sales were up by 51 per cent at Rs 6,645.87 crore in the quarter under review. It was Rs 4412.91 crore in the same period in 2010-11.

Its consolidated net profit after appropriations during April to December this fiscal is Rs 537.62 crore. It was Rs 1,426.58 crore in the corresponding period of in the previous year.

The company's standalone net profit during the third quarter was Rs 422.88 crore while the net sales of the company stood at Rs 2,161.05 crore.

"Our strong financial and operational performance for the quarter is driven by all our business divisions. All Tata Power operations and subsidiaries have done well this quarter as compared to the corresponding period last year," Tata Power Managing Director Anil Sardana said.

Tata Power is India's largest integrated private power utility with an installed capacity of about 3,682 MW.