Tata Power Q2 profit falls 44% at Rs 269 cr on lower income

Tata Power's income from its power business fell about 7% to Rs 1,035 crore for the quarter

Tata Power Co Ltd reported an about 44 per cent slump in quarterly profit, hurt by lower income from its power generation business, missing analysts' forecasts.

Profit came in at Rs 269 crore ($41.63 million) in the quarter ended Sept. 30, compared with a profit of Rs 476 crore a year earlier, the company said on Friday.

Analysts on average expected the Mumbai-based company to post a profit of Rs 373 crore, Thomson Reuters data showed.

Income from its power business fell about 7 per cent to Rs 1,035 crore for the quarter.