The result was announced after market hours yesterday, 2 May 2018.
Meanwhile, the S&P BSE Sensex was down 67.39 points, or 0.19% to 35,109.03.
On the BSE, 1.46 lakh shares were traded in the counter so far compared with average daily volumes of 2.33 lakh shares in the past two weeks. The stock had hit a high of Rs 88.65 and a low of Rs 85.80 so far during the day. The stock hit a 52-week high of Rs 101.75 on 5 January 2018. The stock hit a 52-week low of Rs 75.90 on 11 August 2017.
The Q4 net profit was reported mainly due to good all round performance and exceptional gains of of Rs 1245 crore. Operating profit for the quarter was up 18% at Rs 1445 crore in Q4 March 2018 over Q4 March 2017, mainly due to renewable business and all round good performance of all businesses.
Consolidated net sales rose 12.70% to Rs 7895.23 crore in Q4 March 2018 over Q4 March 2017.
Tata Power's net profit surged 143.64% to Rs 2679.11 crore on 6.32% increase in net sales to Rs 29331.22 crore in the year ended March 2018 (FY 2018) over the year ended March 2017.
FY 2018 net profit surged mainly due to strong performance by regulated businesses, renewables and cost optimization. Exceptional items of Rs 1103 crore contributed to the higher profits. CGPL (Mundra UMPP) posted its highest ever losses due to 25% higher coal prices however it was offset by higher profits at coal companies.
Commenting on the company's performance, Praveer Sinha, CEO & managing director, Tata Power said that the company has registered a strong growth in consolidated PAT. All its subsidiaries and plants have reported robust performance despite challenging circumstances and sectoral challenges. This has been largely due to company's relentless focus on operational improvements & excellence. Tata Power Solar has shown excellent performance and turn around and has been a significant contributor to company's performance. The renewable portfolio continues to do well and has once again made a healthy contribution to PAT.
Delhi distribution arm, TPDDL also continues to reduce its AT&C losses at benchmark levels. Moreover, the company has been working on charting its next phase of growth for which monetization of various non-core assets like SED & other cross holdings is underway to improve the balance sheet. The company is committed to pursuing a well charted growth strategy by demonstrating a high level of commitment towards cleaner sources of generation. While CGPL's under recovery for the quarter and full year has been offset by gains in coal mines to some extent but tangible steps need to be taken by procurers to resolve the viability issue at the earliest, Sinha added.
Tata Power is India's largest integrated power company with a growing international presence.