Tata Power Company today said its consolidated net profit declined by 72 per cent to Rs 152.73 crore for the December quarter, over the year-ago period.
Total income also decreased to Rs 4,340.43 crore for the latest quarter against Rs 4,621.52 crore for the same period previous fiscal, Tata Power Company said in a filing to the Bombay Stock Exchange.
"The provision of write-offs for deferred stripping expenses in the Indonesian coal mines though has reduced the net profit, but in no way affected the long term performance of the coal companies," Tata Power managing director Prasad R Menon said.
For the nine-month period ended December 31, the private power producer posted a net profit of Rs 1,113.65 crore against Rs 1,351.17 crore for the same period last fiscal.
Tata Power closed at Rs 1,265.05 on BSE, down 0.49 per cent from its previous close.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app