<div>Tata Power Company posted an unexpected net loss of Rs 115 crore in the April-June quarter, hit by higher finance costs and foreign exchange losses.<br /><br />Analysts had forecast a net profit of Rs 264 crore compared with Rs 146 crore in the same period a year ago.<br /><br />Tata Power, part of the salt-to-steel Tata Group, has been expanding its business abroad, including in Africa and the Middle East.<br /><br />But its biggest domestic power plant, Mundra, located in Gujarat, has come under financial stress as a regulatory decision allowing it to pass on the rising costs of imported coal to customers has yet to be implemented.<br /><br />Ratings agency Moody's cut its ratings outlook to "negative" from "stable" on Tata at the start of July, citing "material covenant breaches on bank debt" for the Mundra project.<br /><br /><br />(Reuters)</div>
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