Tata Power Q2 profit falls, misses street estimate
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)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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