Tata Power slumps to 4-year low, down 18% on Q1 net loss

Tata Power Company posted consolidated net loss of Rs 114.7 crore in first quarter (April-June) as against profit of Rs 145.9 crore in a year ago period, dented by higher interest payment and forex loss, but its standalone performance was quite good.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney SME Special
moneycontrol.com

Home » News » Buzzing Stocks

Aug 07, 2013, 12.44 AM | Source: Moneycontrol.com

Tata Power slumps to 4-year low, down 18% on Q1 net loss

Tata Power Company posted consolidated net loss of Rs 114.7 crore in first quarter (April-June) as against profit of Rs 145.9 crore in a year ago period, dented by higher interest payment and forex loss, but its standalone performance was quite good.

Like this story, share it with millions of investors on M3

Tata Power slumps to 4-year low, down 18% on Q1 net loss

Tata Power Company posted consolidated net loss of Rs 114.7 crore in first quarter (April-June) as against profit of Rs 145.9 crore in a year ago period, dented by higher interest payment and forex loss, but its standalone performance was quite good.

Post Your Comments

Share Cancel

Moneycontrol Bureau

Tata Power Company shares crashed 18.5 percent intraday Tuesday to touch more than four-year low of Rs 68.25 after it reported loss during April-June quarter .

The private power producer posted consolidated net loss of Rs 114.7 crore in first quarter (April-June) as against profit of Rs 145.9 crore in a year ago period, dented by higher interest payment and forex loss, but its standalone performance was quite good.

Consolidated net revenue increased higher-than-expected 29 percent on yearly basis to Rs 9,292 crore during June quarter while earnings before interest, tax, depreciation & amortisation (EBITDA) margin jumped 290 bps year-on-year to 21.7 percent as against analysts' forecast of 21.2 percent.

Analysts on an average had expected the power company to report net profit at Rs 224 crore on revenues of Rs 9,004 crore for the quarter.

Meanwhile, foreign exchange loss rose by 6.5 times to Rs 292.8 crore during April-June quarter from Rs 45.2 crore in corresponding quarter of last fiscal.

Finance costs (interest payment) ballooned 64.3 percent year-on-year to Rs 902 crore in first quarter. Finance cost includes Rs 45 crore being provision for interest on amounts which have not been deposited with the statutory authorities on account of disputes which are pending.

On standalone basis, net profit increased to Rs 357 crore from Rs 312.30 crore and revenues rose to Rs 2,484.89 crore from Rs 2,190.02 crore Y-o-Y.

At 15:15 hours IST, the stock was quoting at Rs 72, down 13.98 percent amid hefty volumes on the BSE.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Tata Power slumps to 4-year low, down 18% on Q1 net loss

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login