Tata Power profit before tax falls 23% in third quarter due to lower income

The Mundra power plant, the company said, saw lower fuel underrecovery in the December quarter.

Private power producer Tata Power reported a 23 per cent drop in profit before tax (PBT) for the December 2019-ended quarter owing to lower income.  Losses at its Mundra power plant, the company said, were lower for the quarter.

For the October-December 2019 period, Tata Power reported consolidated PBT at Rs 349.08 crore, 23 per cent lower from Rs 456.27 crore reported in the year-ago period. The firm’s consolidated profit after tax was 12 per cent higher at Rs 246 crore, from Rs 220 crore a year ago. “This is mainly due to lower losses in Mundra and better operational performance