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Tata Power Posts Loss In Q4 On One-Time Charge

19 May, 2017 10:36 AM
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Tata Power Posts Loss In Q4 On One-Time Charge

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.

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