Business Standard

Tata Power net dips 40%

Related News

recorded a 40.7 per cent drop in consolidated net profit at Rs 262.6 crore, compared with Rs 442.3 crore in the year-ago period.

The company said the net profit was not comparable to year-ago period’s figure, as it had made provisioning of Rs 648 crore during the quarter for its coal subsidiary, in Indonesia.

“In view of the uncertainty involved in estimating the average stripping ratio for the life of the coal mines at PT Kaltim Prima Coal, the entire deferred stripping costs accumulated in prior years was charged off to the profit and loss account,” Tata Power said in a press release.

The company’s revenue increased 51 per cent to Rs 6,645.8 crore from Rs 4,412 crore a year earlier. This was attributed to the robust performance in the power and coal businesses.

Read more on:   
|
|
|
|
|

Tata Power net dips 40%

Tata Power recorded a 40.7 per cent drop in consolidated net profit at Rs 262.6 crore, compared with Rs 442.3 crore in the year-ago period.

Tata Power recorded a 40.7 per cent drop in consolidated net profit at Rs 262.6 crore, compared with Rs 442.3 crore in the year-ago period.

The company said the net profit was not comparable to year-ago period’s figure, as it had made provisioning of Rs 648 crore during the quarter for its coal subsidiary, Kaltim Prima Coal in Indonesia.

“In view of the uncertainty involved in estimating the average stripping ratio for the life of the coal mines at PT Kaltim Prima Coal, the entire deferred stripping costs accumulated in prior years was charged off to the profit and loss account,” Tata Power said in a press release.

The company’s revenue increased 51 per cent to Rs 6,645.8 crore from Rs 4,412 crore a year earlier. This was attributed to the robust performance in the power and coal businesses.

image

Read More

MphasiS Q1 net flat; revenues declines 8%

Bangalore-based IT Services company, MphasiS witnessed a marginal decline of 0.23 per cent in its net profit to Rs 184.40 crore for its first quarter ...

Recommended for you

Advertisements

Quick Links

Results Calendar
Rss icon March 2015 Rss icon
Sun Mon Tue Wed Thu Fri Sat
1234567
891011121314
15161718192021
22232425262728
293031
Results Tracker
Available for 3987 companies
Quarter Dec 2014 Dec 2013 % chg
Sales 1,755,171.67 1,735,428.45 1.14
Op. Profit 432,730.55 424,217.00 2.01
Net Profit 85,457.34 103,693.76 -17.59
Figures in Rs crore

Back to Top