Chan­dra Ap­pointed Tata Power Chair­man

The Economic Times - - Companies: Pursuit Of Profit - Our Bureau

Mumbai: Tata Power Com­pany has ap­pointed N Chan­drasekaran as chair­man and ad­di­tional di­rec­tor of the com­pany with ef­fect from Satur­day, the power util­ity said in a state­ment on Fri­day.

He will re­place S Pad­man­ab­han who was ap­pointed chair­man on Jan­uary 4 af­ter Cyrus Mistry re­signed from the post fol­low­ing his ouster from Tata Sons.

Chan­drasekaran is the chair­man-des­ig­nate of Tata Sons, the hold­ing com­pany of Tata Group. “I am hon­oured to be ap­pointed as the chair­man of the board of this his­toric or­gan­i­sa­tion which has been serv­ing the na­tion for the past 100 years with ded­i­ca­tion. It will be my en­deav­our to help the man­age­ment team ful­fil Tata Power’s com­mit­ment to light up the lives of our fu­ture gen­er­a­tions,” he said.

Q3 CON­SOLIDATED NET UP 38%

Tata Power on Fri­day also re­ported a con­solidated net profit of ₹ 599 crore for the third quar­ter ended De­cem­ber, up 38% on year, driven mainly by im­proved per­for­mance by key In­dian sub­sidiaries and coal com­pa­nies, and a favourable tax credit.

“Net profit af­ter other com­pre­hen­sive in­come stood at ₹ 695 crore, up 42% from the cor­re­spond­ing quar­ter last year, mainly due to profit from sale of one of the busi­nesses of Tata Com­mu­ni­ca­tions,” the com­pany said.

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