Tata Power Co Ltd reported an about 44 percent slump in quarterly profit, hurt by lower income from its power generation business, missing analysts` forecasts.
Profit came in at 2.69 billion rupees ($41.63 million) in the quarter ended Sept. 30, compared with a profit of 4.76 billion rupees a year earlier, the company said on Friday. http://bit.ly/2z9LkFG
Analysts on average expected the Mumbai-based company to post a profit of 3.73 billion rupees, Thomson Reuters data showed.
Income from its power business fell about 7 percent to 10.35 billion rupees for the quarter.($1 = 64.6100 rupees)
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