Coal news and updates

Tata Power posts lower-than-expected Q2 net of Rs 75 cr

November 15: Tata Power Company Limited (TPCL), the largest private sector power generation company in India, reported lower than expected net profit of Rs 74.97 crore in the quarter ended September 30, 2013 compared to a net loss of Rs 83.80 crore during the same period last year (2012-13), the company said in statement.

Analysts were expecting the company to report a profit of over Rs 200 crore during the quarter, media reports said.

The company attributed the increase in profit to higher revenues from both its power and coal businesses which increased by 16% and 7% respectively even though overall profit was affected due to lower realisation from coal mines in Indonesia, higher forex loss and higher finance costs at Mundra, said the company statement.

The company's overall revenues from operations increased by 14% to Rs 8,764.69 crore during the quarter from Rs 7,699.77 crore reported in the corresponding quarter of the previous financial year.

Revenues from the power business increased to Rs 6,392.93 crore from Rs 5,530.46 crore in the corresponding quarter of the previous year whereas revenues from the coal business increased to Rs 2,104.66 crore from Rs 1,960.39 crore.

Following are the consolidated Q2 results of TPCL in 2013-14 and 2012-13 (in Rs crore) (audited):