On the BSE, the stock gained 5.2 per cent to Rs 79.80. It was the biggest gainer among the 30-Sensex scrips.
Shares of Tata Power went up by 4.94 per cent to Rs 79.60 on the NSE.
Tata Power yesterday posted a consolidated net profit of Rs 159.14 crore for the January-March quarter of 2014-15 against a loss of Rs 145.33 crore in the same quarter of previous fiscal.
Total income of the company decreased however to Rs 8,227.14 crore for the quarter, from Rs 8,954.87 crore in the year-ago period.
It posted a net profit after taxes, minority interest and share of profit of associates of Rs 167.83 crore for the year ended March 31, 2015, against a loss of Rs 259.97 crore for the year ended March 31, 2014.
Its total income fell to Rs 34,783.59 crore for the year ended March 31, 2015, from Rs 35,311.24 crore for 2013-14, it added.
PTI