Feb 11 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)
Trending On Reuters
A nation-wide bank strike in India hit the public transactions like cheque clearances and cash deposits, but the vital treasury operations including a 150 billion rupee ($2.24 billion) government bond auction are unlikely to be affected, traders said. Full Article