India's Tata Power posts surprise Q3 loss

Mon Feb 11, 2013 2:41pm IST

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Feb 11 (Reuters) - India's Tata Power Company 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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