Tata Power posts surprise third-quarter loss

Mon Feb 11, 2013 3:01pm IST

1 of 2. A man walks his cow under high-tension power lines leading from a Tata Power sub station in Mumbai's suburbs February 10, 2013.

Credit: Reuters/Vivek Prakash

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REUTERS - Tata Power Company(TTPW.NS) posted a surprise third-quarter loss, hurt by higher finance and depreciation costs and foreign exchange losses.

The company reported a net loss of 3.29 billion rupees in the quarter that ended in December, compared with a profit of 2.98 billion rupees in the year-ago period.

Analysts on average were expecting the company to report a net profit of 2.7 billion rupees, according to Thomson Reuters I/B/E/S.

(Reporting By Aradhana Aravindan; Editing by Jijo Jacob)

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