Tata Power has reported a turnaround performance, logging a consolidated net profit of ₹159 crore for the quarter ended March 31, 2015, compared to a loss of ₹145 crore in the year-ago quarter.
The profitability is due to lower depreciation and drop in coal prices.
For the reporting quarter, the net revenue was at ₹8,167 crore (₹8,862 crore in the year-ago quarter).
The other operating income increased to ₹72 crore from ₹39 crore in the year-ago quarter. The company also benefited from operational efficiencies of coal mines as well as forex gains on VAT related settlement, a statement issued by the company said.
Tata Power stock closed almost flat at ₹75.85 per share on the BSE.