Earnings

Tata Power quarterly profit dives nearly 79 percent due to higher expenses

Updated : January 29, 2019 06:37 AM IST

Net profit came in at Rs 127 crore($17.87 million) for the quarter ended Dec. 31, 2018, down from Rs 591 crore a year earlier, the power generator and distributor said on Monday.

Seven analysts on an average expected the company to post a profit of Rs 395 crore , according to Refinitiv Eikon data.

Tata Power quarterly profit dives nearly 79 percent due to higher expenses

India's Tata Power Co Ltd's quarterly profit plunged nearly 79 percent, well below market expectations, dented by higher expenses.

Net profit came in at Rs 127 crore($17.87 million) for the quarter ended Dec. 31, 2018, down from Rs 591 crore a year earlier, the power generator and distributor said on Monday.

Seven analysts on an average expected the company to post a profit of Rs 395 crore , according to Refinitiv Eikon data.

However, revenue from operations jumped 21.2 percent to Rs 7,707 billion while expenses spiked 16.8 percent.

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