Tata Power Company Ltd.

BSE: 500400 | NSE: TATAPOWER
Large Cap | Power Generation/Distribution
427.45
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Tata power reports quarterly loss of Rs 1,218.86 crore

Date: 15-11-2011

Tata Power Company has reported 13.17% rise in net profit after tax and appropriation for second quarter ended September 30, 2011 at Rs 281.50 crore. The company had posted a net profit of Rs 248.73 crore in the corresponding period last year. However, the company’s total income has surged by 24.64% at Rs 2280.33 crore for Q2FY12 as compared to Rs 1829.59 crore for Q2FY11.

Tata Power Group has posted a net loss of Rs 1218.86 crore for the quarter under review as compared to net profit after Statutory Appropriations of Rs 672.54 crore in the same period a year ago. Total income grew 10.29% to Rs 5652.89 crore for quarter under review as compared to Rs 5125.59 crore for same quarter last year.

A wholly-owned subsidiary of Tata Power, Coastal Gujarat Power (CGPL) is implementing the 4,000 MW Mundra project. The quarterly loss was due to provision made for impairment of Rs 823 crore and forex loss of Rs 638.96 crore incurred by CGPL.