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Tata Power misses 4th-quarter profit estimates as costs rise

Reuters 

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 3.89 billion rupees for the quarter ended March 2017.Analysts on average had expected a consolidated profit of 4.26 billion rupees, 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 ...

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First Published: Fri, May 19 2017. 17:33 IST
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