Nov 6 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)