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Technofunda report on Tata Power




Bonanza Portfolio Limited


18 Mar 2013





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Tata Power reported a net profit of Rs 216.38 crores in Q3FY13 as compared to Rs 458.16 crores in the corresponding period of last fiscal. An impairment provision of Rs 600 crore in CGPL coupled with forex losses of Rs 86 crores and higher finance costs impacted the company’s performance in this quarter. On consolidated basis, the company reported a net loss of Rs 329 crore in Q3FY13 as against a net profit of Rs 298 crore in the previous corresponding period. The company also reported a healthy number in revenues. Tata Power’s consolidated Q3 revenues crossed Rs 9,000 crores, up by 36% YoY. While the Year-to-date(YTD) revenues were up by 28 percent at Rs 23,992.97 crore. The Consolidated Q3 operating profits jumped by 91 percent up at Rs 1,267.39 crore; YTD operating profits grew by 7 percent up at Rs3,141.64 crore. Nine months consolidated PAT improved to Rs (266.79) crore, with an impairment provision of Rs 850 crore in CGPL. The company’s Q3FY13 standalone revenue grew by 13 percent to Rs 2,549.11 crore as against Rs 2251.86 crores in the corresponding period of last fiscal. Tata Power reported a 35 percent increase in its standalone operating profit at Rs 440.40 crores in Q3FY13 as compared to Rs 326.35 crore on a YoY basis.

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