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Tata Power Q2 Profit Falls, Misses Street Estimate

Analysts on average expected the Mumbai-based company to post a profit of Rs 3.73 billion

Photo Credit : Reuters,

Tata Power Co reported an about 44 per cent slump in quarterly profit, hurt by lower income from its power generation business, missing analysts' forecasts.

Profit came in at Rs 2.69 billion ($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.

Analysts on average expected the Mumbai-based company to post a profit of Rs 3.73 billion, Thomson Reuters data showed.

Income from its power business fell about 7 per cent to Rs 10.35 billion for the quarter.

(Reuters)


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