Tata Power has sold 4.2% in Power Trading Corporation [PTC] India in the open market for about Rs 50 crore since April 2007.
Tata Power held 10.47% till March 2007. The company diluted its holding marginally during the April-June 2007 quarter. Thereafter, it sold an additional 3.35% in the open market over the past six weeks, report suggests.
PTC’s net profit fell 1.1% to Rs 11.88 crore on a 12.2% increase in sales to Rs 1158.55 in Q1 June 2007 over Q1 June 2006.