Tata Power Co Ltd posted a loss in the fourth quarter on Friday compared with a profit a year earlier as it incurred a one-time charge towards contractual obligations. The company posted a consolidated net loss of Rs 247 crore ($38.12 million) for the quarter ended March 31, compared with a profit of Rs 82.95 crore for the corresponding period a year earlier. Consolidated exceptional loss towards contractual obligations amounted to Rs 651 crore, Tata Power said.
Analysts on average had expected a consolidated profit of Rs 426 crore for the quarter, according to Thomson Reuters data.
Also read: DLF posts Rs 136 crore Q4 profit