Business Companies 19 May 2017 Tata Power posts sur ...

Tata Power posts surprise Q4 loss on charge

REUTERS
Published May 19, 2017, 3:47 pm IST
Updated May 19, 2017, 3:47 pm IST
The company posted a consolidated net loss for the quarter ended March 31 of 2.47 billion rupees.
Representational Image
 Representational Image

Bengaluru: Tata Power Co Ltd posted a loss in the fourth quarter on Friday compared with a profit a year earlier as it incurred a one-time charge towards contractual obligations.

The company posted a consolidated net loss for the quarter ended March 31 of 2.47 billion rupees ($38.12 million), compared with a profit of 829.5 million rupees a year earlier.

 

Consolidated exceptional loss towards contractual obligations amounted to 6.51 billion rupees, Tata Power said.

Analysts on average had expected a consolidated profit of 4.26 billion rupees for the quarter, according to Thomson Reuters data.

The company's consolidated revenue from its power business fell 12 percent to 59.75 billion rupees.

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Location: India, Karnataka, Bengaluru




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