Tata Power Co. Ltd on Friday reported an 87.6% fall in consolidated net profit for the quarter ended 31 December, missing analysts' expectations. Net profit for the third quarter of the current fiscal fell 87.6% to Rs.24.46 crore from Rs.197.74 crore in the year ago quarter. Total consolidated income from operations rose about 9.4% to Rs.9,329.27 crore from Rs.8,528.40 crore a year ago. Fifteen analysts polled by Bloomberg had expected Tata Power to report a consolidated net profit of Rs.229.90 crore on net sales of Rs.9,454.20 crore. During the third quarter, Tata Power reported a forex loss of about Rs.61 crore compared with a gain of Rs.421.04 crore in the year ago quarter, the company said in a statement. The company also recorded exceptional loss of Rs.187.15 crore, due to impairment of goodwill on its Indonesian coal assets. However, the company reversed an impairment loss in subsidiary CGPL (Coastal Gujarat Power Ltd) of Rs.2,320 crore, Tata Power said in the statement. The company's income was also hurt by regulatory expenses of about Rs.601 crore during the quarter. "Profit from operations (after adjustment for regulatory income) was up 20% at Rs.4,043 crore as compared to Rs.3,358 crore in the same quarter last year, the company said in its press release. Revenue from the power segment fell 2.3% to Rs.6,449.99 crore, while revenue from coal segment fell 8.6% to Rs.1,922.16 crore during the quarter. Revenue from other segments, including defence electronics, solar equipment, and infrastructure management services, rose 59.5% to Rs.619.79 crore. As of 30 September, the company had a consolidated debt ofRs.40,720 crore. Tata Power's shares closed up 2.2% to Rs.60.40 apiece on BSE on Friday, while the benchmark Sensex rose 1.14%, or 278.54 points, to 24,616.97.