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Tata Power Co Ltd, on a consolidated basis, posted a loss of ₹75 crore for the December quarter against ₹329 crore loss logged in the corresponding period last year.
The quarter included a provision for impairment of ₹600 crore for the 4,000-MW Mundra project in Gujarat.
In the December quarter, Mundra posted a revenue of ₹1,311 crore (₹802 crore) as all five units were operational and curtailed losses to ₹318 crore from ₹829 crore in the year-ago period.
Tata Power said its improved performance was despite provisions relating to exceptional expenditures towards settlement of mining rates, mine rehabilitation cost, forex losses and tax demands in Arutmin coal mines in Indonesia, the company said.
Consolidated revenue was down 4 per cent at ₹8,700 crore (₹9,039 crore).
Anil Sardana, Managing Director, hoped the much-awaited decision in respect of tariff (for Mundra) would be taken early to ensure viability of the project and the consequent impact on Tata Power’s net worth.
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