Tata Power on Tuesday reported weak Q2FY17 earnings with income falling 6 percent to Rs 7,208.9 crore against Rs 7,666.3 crore in the year-ago period. EBITDA fell 27.2 percent to Rs 1,461.6 crore against Rs 2,008 crore reported during Q2FY16. Meanwhile, EBITDA margin for the quarter stood at 20.3 percent.
Meanwhile, net profit surged to Rs 336.2 crore during the quarter ended September 2016.
Tata Power’s weak performance prompted experts to expect that the stock will be under pressure when the bourses open Wednesday.
In the light of boardroom battle, investors may not like earnings Tata Power reported. Even though there is no immediate overhang from Tata Sons EGM, market expert Prakash Diwan said he expects dark days for Tata Power going ahead. The stock could be under pressure when the bourses on Wednesday and for long-term investors there are far better stocks available than Tata Power, he said.
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