Tata Power posts Q1 net loss at Rs 111.3 cr; misses
estimates
12/08/2014 17:31
Private power producer, Tata Power Company Ltd on Tuesday said that its consolidated net loss contracted marginally at Rs 111.3 crore in the first quarter ended June 30, 2014 due to lower forex losses and depreciation in Coastal Gujarat Power. The company had posted a consolidated net loss of Rs 114.7 crore in the same quarter a year ago, the company said in a filing to the Bombay Stock Exchange. During the quarter under review, total income has decreased 4.4 per cent from Rs 9111.57 crore for the quarter ended June 30, 2013 to Rs 8714.94 crore for the quarter ended June 30, 2014, due to lower realisation by coal companies, lower fuel cost in Mumbai operations and lower volume traded by Tata Power Trading Company (TPTCL), said the company in its filing. Commenting on the performance, Tata Power, CEO and Managing Director, Anil Sardana, said, “During the first quarter of FY 15, the company reported robust operational performance by its businesses and subsidiaries. We are delighted to update that we commissioned yet another large solar project of 25 MW in Palaswadi, Maharashtra.” Operating profit (EBITDA) dropped 14 percent on yearly basis to Rs 1,775 crore on account of lower sales realisation from coal companies, lower contribution from Trombay unit 8 and wind operations. Margin declined by 190 basis points to 20.2 percent in the quarter gone by. Analysts had expected both at Rs 2,024 crore and 21.3 percent, respectively. Meanwhile, shares of the company closed trading at Rs 91.00 a piece, up 0.28 per cent from the previous close on BSE.
12/08/2014 17:31
Private power producer, Tata Power Company Ltd on Tuesday said that its consolidated net loss contracted marginally at Rs 111.3 crore in the first quarter ended June 30, 2014 due to lower forex losses and depreciation in Coastal Gujarat Power. The company had posted a consolidated net loss of Rs 114.7 crore in the same quarter a year ago, the company said in a filing to the Bombay Stock Exchange. During the quarter under review, total income has decreased 4.4 per cent from Rs 9111.57 crore for the quarter ended June 30, 2013 to Rs 8714.94 crore for the quarter ended June 30, 2014, due to lower realisation by coal companies, lower fuel cost in Mumbai operations and lower volume traded by Tata Power Trading Company (TPTCL), said the company in its filing. Commenting on the performance, Tata Power, CEO and Managing Director, Anil Sardana, said, “During the first quarter of FY 15, the company reported robust operational performance by its businesses and subsidiaries. We are delighted to update that we commissioned yet another large solar project of 25 MW in Palaswadi, Maharashtra.” Operating profit (EBITDA) dropped 14 percent on yearly basis to Rs 1,775 crore on account of lower sales realisation from coal companies, lower contribution from Trombay unit 8 and wind operations. Margin declined by 190 basis points to 20.2 percent in the quarter gone by. Analysts had expected both at Rs 2,024 crore and 21.3 percent, respectively. Meanwhile, shares of the company closed trading at Rs 91.00 a piece, up 0.28 per cent from the previous close on BSE.
