November 6, 2012 / 12:21 PM / 5 years ago

India's Tata Power posts net loss in Q2

1 Min Read

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below