Tata Power reports net profit of Rs 336 crore in Q2FY17
Tata Power on Tuesday announced its financial quarter results. The company reported a net profit of Rs 336.2 crore for the ended September 30, 2016 as compared to net loss of Rs(95.87) crore for the quarter ended September 30, 2015.
The company in its regulatory filing said, that the total income decreased from Rs 7,577.4 crore in Q2FY16 to Rs 7, 311.8 crore in Q2FY17.
Moreover, the company also decided to convene an Extraordinary General Meeting of the Members of the Company on Monday, December 26, 2016 in Mumbai for considering and passing a resolution for removal of Cyrus Mistry as Director of the company.
The company's total cost in Q2FY17 rose to Rs 6.19 core as against Rs 6.05 billion in Q2FY16.
On Tuesday, the shares of the company closed at Rs 72.20 per piece, down 0.76%, or Rs 0.55 on BSE.