Tata Power plunges on disappointing Q4 nos

Tata Power Company has dipped 5% to Rs 86.50, extending its previous day’s over 5% fall, on reporting a consolidated loss of Rs 629 crore for the fourth quarter ended March 2012, due to impairment provision related to Mundra project. The company had a consolidated profit after tax of Rs 625 crore in the previous year quarter.

Consolidated revenue of the country's largest private power producer however, jumped 44% at Rs 7,235 crore on the year-on-year basis.

“The net loss was mainly on account of additional provision made for impairment of Rs 815 crore related to the Mundra Ultra Mega Power Project (UMPP),” Tata Group power firm said in a filing.

A combined 180,000 shares have changed hands on the counter in opening deals on both the exchanges.