Tata Power shares down 2.5% after Q4 earnings

Tata Power shares fell 2.5 per cent today after the company reported a consolidated net loss of Rs 246.9 crore for the quarter ended March 31.
The stock went down by 2.55 per cent to close at Rs 82.05 on BSE. During the day, it slipped 4.21 per cent to Rs 80.65.
At NSE, shares of the company declined by 2.49 per cent to end at Rs 82.05.
In terms of volume, 5.46 lakh shares of the company were traded on BSE and over 50 lakh shares changed hands at NSE during the day.
Tata Power has reported a consolidated net loss of Rs 246.9 crore in the quarter ended March 31, mainly due to a payment for "exceptional item" under a contractual obligation for DoCoMo share buy back.

Had the company not been impacted due to share buy back of DoCoMo of Rs 651 crore, the company would have reported a profit of Rs 389 crore in the January-March quarter this year, a Tata Power official explained in a statement on its financial results.
The company had reported a profit of Rs 82.95 crore in the year-ago quarter, Tata Power said in a BSE filing on Friday.
According to the statement, the company has deposited Rs 790 crore to Tata Sons, as part of its share of contractual obligation.