Tata Power reports Q2 profit of Rs 336.2 crore as against Rs 95.9 crore loss YoY

NEW DELHI: Tata Power on Tuesday reported a consolidated profit of Rs 336.2 crore for the July-September quarter. This compares to a loss of Rs 95.9 crore, the company reported in the year-ago quarter.

In a regulatory filing the Tata group firm said its total income slipped by 6 per cent to Rs 7,208.89 crore in the quarter compared with Rs 7,666.33 crore in the corresponding year ago period.

Consolidated forex loss stood at Rs 68.5 crore for the quarter. Meanwhile, consolidated Ebitda was Rs 1,462 crore in the second quarter as against Rs 2,008 crore in the year ago period.

Shares of the company had closed 0.76 per cent lower at Rs 72.20 ahead of the earnings announcement.

Meanwhile in a separate filing, the integrated power producer said the board has decided to convene an extraordinary general meeting on December 26, 2016 for considering and passing a resolution for the removal of Cyrus Mistry as the director of the company.