Tata Power Company, an integrated power company, swung to a consolidated profit for the quarter ended March 2015. During the quarter, the company reported a profit of Rs 1.59 billion compared with a loss of Rs 1.45 billion in the same quarter last year mainly due to lower depreciation & lower coal prices in CGPL and better performance of Mumbai Operations. The impact of lower coal price realization were offset by better operational efficiencies of coal mines as well as forex gains on VAT related settlement during the year.
 
Total income for the quarter declined 8.13% to Rs 82.27 billion, compared with Rs 89.55 billion for the prior year period.

Operating Profit for the quarter was up by 28% at Rs 14.08 billion as compared to Rs 10.97 billion in Q4FY14 mainly due to lower depreciation & lower coal price in CGPL and higher contribution from Mumbai Operations.

Anil Sardana, CEO & MD, Tata Power said, ''The Company has significantly improved its profitability in the fourth quarter of FY14-15 and for the year 2014-15. All units have consistently maintained strong operational performance across our business verticals, despite very challenging circumstances. We have grown our footprints and ventured into many projects in the international market.

We are extremely happy to announce various landmarks in the 100th year of our company's existence, such as commissioning of the 126MW Dagachhu Hydro Power Corporation (DHPC) in Bhutan, completion of the financial closure for 187 MW Adjaristsqali hydro project in Georgia along with IFC, ABD and EBRD. The Company has also formalised the acquisition of 50% shareholding in 120 MW hydro power plant in Itezhi Tezhi district in Zambia.''

Shares of the company gained Rs 2.75, or 3.63%, to trade at Rs 78.60. The total volume of shares traded was 260,647 at the BSE (9.22 a.m., Wednesday).