Tata Power posts Q2 net loss at Rs 83.8 cr

Private power producer Tata Power  has disappointed the street by reporting a consolidated net loss of Rs 83.8 crore in the second quarter of current financial year as against loss of Rs 1,187 crore in a year ago period.

Consolidated net sales increased lower than expected 17.8% to Rs 7,399 crore from Rs 6,282 crore during the same period.

Analysts on an average had expected net profit of Rs 275 crore on net sales of Rs 7,451 crore for the quarter.

Earnings before interest, tax, depreciation and amortization (EBITDA) rose by 9 percent Yoyo to Rs 1,509.3 crore in the September quarter.

EBITDA margin declined to 19.7 percent in the three months period ended September 2012 as against 22 percent in a year ago period and expectations of 20.9 percent.

The company has reported a foreign exchange loss of Rs 31.6 crore for the quarter.

Source: www.moneycontrol.com

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DENIP Consultants Pvt Ltd