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Tata Power posts surprise Rs 247 crore Q4 loss on one-time charge

Consolidated exceptional loss towards contractual obligations amounted to Rs 651 crore

Reuters 

Tata Power Co Ltd on Friday reported a fourth-quarter adjusted profit that missed analysts' estimates, as lower recovery on the cost of fuel at one of its major power plants and higher fuel costs hurt margins. On an adjusted basis, excluding a one-time charge, the company posted an increase in consolidated net profit to Rs 389 for the quarter ended March 2017. Analysts on average had expected a consolidated profit of Rs 426 crore according to Thomson Reuters data. The charge is related to a write-off of a major part of the company's investments in the equity shares of ...

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First Published: Fri, May 19 2017. 17:59 IST
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