The Pak Banker - - COMPANIES/BOSS -

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.

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