India's Tata Power posts net loss in Q2
Nov 6 (Reuters) - India's Tata Power Company Ltd posted a net loss in its fiscal second quarter ended Sept. 30, even as increased costs at its coal units, and higher finance and depreciation costs affected its bottomline.
The company posted a consolidated net loss of 838 million rupees ($15.4 million), compared with a consolidated net loss of 11.9 billion rupees a year earlier. Revenue rose 22 percent to 76.49 billion rupees, helped by the commissioning of new units.
Analysts had expected Tata Power to post a net profit of 2.46 billion rupees, according to Thomson Reuters I/B/E/S.
Tata Power said the bottomline in the quarter ended September was impacted by impairment charges of 2.50 billion rupees due to change in the long-term foreign currency outlook at one of its units.
($1 = 54.5550 Indian rupees) (Reporting by Sumeet Chatterjee; Editing by Sunil Nair)
- Tweet this
- Share this
- Digg this
- IPhone emerges from "bygone era", reviewers hail bigger handset
- Alibaba in talks with Snapdeal to enter India - Economic Times
- Mars mission enters last lap; crucial test on Sept. 24
- After Obama speech, Islamic State wins new recruits in Syria - monitor
- Google launches $105 Android One; eyes low-price smartphone boom
The United States said on Wednesday it will press Prime Minister Narendra Modi to end his blockage of a global trade pact when he visits Washington this month, something that could dampen the mood of a trip aimed at revitalizing strategic ties. Full Article
China cenbank injects $81 bln into major banks to support economy - reports Full Article