Tata Power drops after reporting dismal Q3 numbers

Tata Power Company dropped 1.99% to Rs 59.20 at 9:25 IST on BSE after consolidated net profit fell 87.63% to Rs 24.46 crore on 2.98% rise in total income to Rs 9313.19 crore in Q3 December 2015 over Q3 December 2014.

The result was announced after market hours on Friday, 5 February 2016.

Meanwhile, the BSE Sensex was almost unchanged at 24,617.50.

On BSE, so far 52,006 shares were traded in the counter, compared with an average volume of 3.47 lakh shares in the past one quarter. The stock hit a high of Rs 60.10 and a low of Rs 58.65 so far during the day.

The large-cap company has an equity capital of Rs 270.46 crore. Face value per share is Re 1.

Tata Power Company also said that the listed redeemable non-convertible debentures of the company aggregating Rs 1605 crore are secured by way of charge on the company's various assets and the asset cover thereof exceeds hundred percent of the principal amount of the debentures. The listed redeemable non-convertible debentures of Maithon Power, the company's subsidiary, aggregating Rs 500 crore, are secured by way of charge on its various assets and the asset cover thereof exceeds hundred percent of the principal amount of the debentures.

Tata Power is India's largest integrated power company with a significant international presence. The company has presence in all the segments of the power sector viz generation (thermal, hydro, solar and wind), transmission, distribution and trading.

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