Now Tata’s strength will be visible in Bhutan, this special plan of the company for hydro power project
Tata Group is now ready to show its strength in Bhutan. Tata Group company Tata Power is increasing its green energy portfolio. Under this plan, the company will buy 40% stake in a hydro power project in Bhutan for Rs 830 crore. This project with a capacity of 600 MW will require an investment of Rs 6900 crore. After purchasing the stake in this project, Khorlochhu Hydro Power will become a subsidiary company of Tata Power. Tata Power will partner with Druk Green Power to develop a 600 MW station. On this occasion, the company said that this project will help Tata Power to accelerate its clean and green energy transition.
Company will end GDS
Tata Power said it will delist its Global Depository Shares (GDS) from the Luxembourg Stock Exchange. Giving the reason for this, the company said that there has been no activity in it for the last several years. Let us tell you that the company had issued GDS in 1994. For this the company had appointed Citibank as the special depository.
Company’s financial reporting will be simple
Tata Power said in a regulatory filing that there has been no activity in GDS for the last several years. In such a situation, eliminating it will not only simplify the company’s financial reporting requirements, but will also reduce administrative costs. The company said that we will take necessary steps to end the GDS program and it will be removed from the Luxembourg Stock Exchange.
Tata Power made a profit of Rs 1189 crore
Tata Power on Tuesday released the results for the first quarter (April-June) of the current financial year (2024-25). In this first quarter, the company’s profit has increased by 4 percent to Rs 1189 crore. The company’s revenue has also increased during this period. It has increased by 12 percent to Rs 16810 crore. This revenue was Rs 15213 crore in the same quarter last year.
