Tata Power Company, a leading power major, has clocked phenomenal decline in standalone net profit for the three month period ended December 2008.

During the quarter, the profit of the company slashed 48.76% to Rs 1,010.80 million against Rs 1,972.80 million in the same quarter of previous fiscal.

Net sales grew 25.18% to Rs 17,768.70 million, while total income rose 24.78% to Rs 18,228.70 million for the quarter ended December 2008 against with the prior year period.

State-run Bharat Heavy Electricals has made announcement that the company has bagged Rs240-crore order for manufacturing and supplying transformers to Tata Power's power project in Gujarat.

According to the sources, the proposed contract has been placed by Coastal Gujarat Power Ltd (CGPL), a special-purpose vehicle (SPV) by Tata Power, for the implementation of the 4,000 MW Mundra Ultra Mega Power Project (UMPP).

The order also entails manufacture and supply of busducts for the power project. Busducts are designed for connecting the generator to the maintransformer.