Tata Power stocks trip on weak earnings
Mumbai: Shares of Tata Power fell nearly four per cent today after the company reported a consolidated loss of Rs. 78 crore for the September quarter.
Tata Power's scrip lost 3.66 per cent to Rs. 85.50 on the BSE.
On the NSE, it was down 3.83 per cent to Rs. 85.35.
Tata Power had yesterday reported a consolidated loss of Rs. 78 crore for the September quarter as the company was impacted by lower revenues from coal business, among other factors.
The leading power producer had a consolidated profit-after-tax of Rs. 75 crore in the July-September quarter of last fiscal.
On a standalone basis, the company's profit-after-tax in the second quarter of the current fiscal rose to Rs. 306 crore from Rs. 262 crore in the year-ago period.
Its revenue on a consolidated basis fell to Rs. 8,394 crore from Rs. 8,765 crore in the year-ago period due to lower realisation by coal companies and lower fuel cost in Mumbai operations, Tata Power had said in a statement.