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Tata Power posts Rs 145 .33-cr Q4 net loss

May 30: Tata Power Company Limited (TPCL) reported a net loss of Rs 145.33 crore on a consolidated basis during the fourth quarter (January-March) of the fiscal ending March 31, 2014, compared to a net profit of Rs 181.36 crore recorded in the same quarter of the previous fiscal, mainly on account of higher costs, the company said in a statement on May 29.

Total income from operations of the company during the quarter under review too dropped by nearly 2% to Rs 8,844.50 crore compared to Rs 9,032.46 crore recorded in the same quarter of last year. However, for the full fiscal of 2013-14, the company’s revenues were up 8% to Rs 35,648.70 crore as compared to Rs 33,025.43 crore in the last fiscal. 

The company said that full operations of the Mundra ultra-mega power plant, an additional 150-MW long-term power sale tie-up between the  company’s Maithon unit and West Bengal State Electricity Distribution Company Limited and high units sold by Tata Power Trading Company Limited (TPTCL) as well as higher sales volumes by Tata Power Solar led to this growth.

Commenting on the company’s performance, Anil Sardana, Managing Director, Tata Power, said, “During the year 2013-14, the company continued its strong operational performance across all its businesses despite very challenging circumstances.”

For the full fiscal of 2013-14, the company’s net loss widened at Rs 259.97 crore, as against Rs 85.43 crore in the last fiscal mainly due to forex losses, the company statement said.

The following table gives quarter-on-quarter and yearly consolidated performance of Tata Power Company limited in 2014 and 2013 (in Rs crore):