Profit Before Tax up for the Quarter by 48.2% at 196 Crores
Nine months PAT up 6.8 % and Revenues up by 13.6 %

• PAT for the quarter stood at Rs.197.28 Crores and is not comparable with same period last year
• Nine month Sales at 11481 MUs as compared to 11007 MUs
• Trombay Thermal Power Station recorded highest generation of 2629 MUs
• Generation at Jojobera Thermal Power Station up by 4.8% at 689 MUs
• 50.4 MW of wind farm project at Khandke completed
• Allotted Mandakini Coal Block in Orissa jointly with Jindal Photo & Monnet Ispat

The Tata Power Company Limited, India’s largest private power utility, today announced its audited financial results for the quarter ended December 31, 2007.

Highlights - Q3 FY '08

• Tata Power reported 48.2% growth in Profit before Tax (PBT) at Rs.195.97 Crores compared to Rs.132.23 Crores in the corresponding quarter last year. The Company’s Revenues rose by 18.3% to Rs. 1419.40 Crores compared to Rs.1199.72 Crores in the Q3 FY07.
• PAT for the quarter stood at Rs. 197.28 Crores and is not comparable with the corresponding period last year as the corresponding period included higher reversal of tax provisions aggregating Rs.130 Crores arising out of favourable assessments/orders pertaining to the Mumbai Licence Area operations.
• The Company’s Trombay Thermal Power Station recorded highest ever generation of 2629 MUs (Previous highest was 2574 MUs). The Jojobera Thermal Power Station recorded higher generation at 689 MUs, as compared to 657 MUs and improved PLF of 72.9%. Belgaum Power Station also reported increase in generation to 68 MUs due to higher demand by KPTCL.

Highlights Nine Months - FY '08

• Tata Power reported 6.8% growth in Profit after Tax (PAT) at Rs.644.91 Crores compared to Rs.604.07 Crores in the corresponding nine months last year. The corresponding period last year included higher reversal of tax provisions aggregating Rs.157.50 Crores arising out of favourable assessments/orders pertaining to the Mumbai Licence Area operations. The Company’s Revenues rose by 13.6% to Rs.4281.44 Crores compared to Rs.3767.92 Crores in the nine months ended on 31st December 2007. Sales Volume during the nine months ended showed increase by 4.3% at 11481 MUs.
• The Company’s Trombay Thermal Power Station recorded higher thermal generation at 7672 MUs as compared to 7144 MUs and PLF of 87.4%.The Jojobera Thermal Power Station recorded higher generation at  2131 MUs, as compared to 1990 MUs and PLF of 75.5%.

Commenting on the performance this quarter, Mr. Prasad Menon, Managing Director, The Tata Power Co. Ltd., "We continue to consolidate our power business as an integrated power and energy company through operational excellence, capacity expansion and foray into new markets. Our projects are in various stages of implementation across the country. Our track record of steady project implementation and superior service augurs well for our consumers and various stakeholders moving forward"

Growth Plans:

250 MW Trombay Unit 8: The 250 MW Unit 8 expansion project at Trombay is also progressing as per schedule and will be commissioned by October 2008.

4000 MW, Mundra Ultra Mega Power Project: is progressing as per schedule. Orders for the main equipments have been placed and site preparatory works are in progress.

1050 MW Maithon Power Project: is progressing as per schedule. Orders for the main equipments have been placed and site preparatory works are in progress.

Wind Farm Projects: During the quarter, 50.4 MW Khandke Project was completed. Two additional wind projects of 50.4 MW each are being developed in Jamnagar district at Gujarat and Gadag district at Karnataka. Order has been placed on Enercon for setting up these machines.

120 MW Power Project at Haldia: The Haldia power plant based on coke oven gases is progressing as per schedule and will be commissioned in 2008.

Captive Power Projects for Tata Steel: The 120 MW Power House # 6 at Tata Steel Works, Jamshedpur and 120 MW Unit # 5 at Jojobera are also progressing as per schedule and will be commissioned in the next financial year.

Captive Coal Blocks:

Tubed Coal Block in Jharkhand: A Joint-Venture has been formed with the Company and Hindalco and Tubed Coal Mining Limited has been registered.

Mandakini Coal Block in Orissa: The screening Committee of Ministry of Coal has allotted Mandakini Coal Block in Orissa jointly to Tata Power, Jindal Photo and Monnet Ispat. Heads of agreement has been signed with JV partners.

Awards and Recognitions:

• Awarded the Quality Circles AWARD 2007 at the "National Convention on Quality Circles" under the aegis of Quality Circle Forum of India.
• Jojobera Division has been recognized by the National Safety Council of India and awarded the “Suraksha Puraskar” in recognition for developing and implementing very effective Safety Management Systems and Procedures and achieving very good performance in safety during the assessment period of three years – 2003-05.

About Tata Power:

Tata Power is India's largest private sector power utility with an installed generation capacity of over 2300 MW and a presence in all the segments of the power sector viz Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading. The Company has successful public-private partnerships in Generation, Transmission and Distribution - 'North Delhi Power Limited' with Delhi Vidyut Board for distribution in North Delhi, 'Powerlinks Transmission Ltd.' with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi and 'Maithon Power Ltd.' with Damodar Valley Corporation for a 1050 MW Mega Power Project at Jharkhand. It has recently acquired 30% stake in Coal Companies at Indonesia and is developing the first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. With its track record of technology leadership, customer care and redefining contours of the Indian power sector, Tata Power is poised for a five-fold growth and committed to ‘lighting up lives’ for generations to come.

Disclaimer Statement: Some of the statements in this document, except for the historical information, are forward-looking statements. These forward-looking statements include references to growth projections, plans, strategies, intentions and beliefs concerning our business and operating environment. There are risks, uncertainties and other factors that may cause actual results to differ materially from those projected by these forward-looking statements.

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