Tata Power FY20 profit plunges 49.5% to Rs 1,316 crore; to raise Rs 1,500 crore via NCDs

Tata Power company, a part of the Tata Group, has reported 49.5 per cent decline in its consolidated net profit at Rs 1,316 crore for the full financial year ended March 31, 2020, as compared to Rs 2,606 crore in the previous fiscal.

Consolidated operating income of the Mumbai-based electric utility company fell by 3.45 per cent to Rs 28,948 crore as compared to Rs 29,984 crore in FY19, Tata Power company said in a filing to the Bombay Stock Exchange.

EBITDA (Earnings before Interest, Taxes, Depreciation and Amortisation) increased to Rs 8,317 crore from Rs 7,235 crore in the previous fiscal.