Tata Power Company today said its consolidated net profit declined by 72 per cent to Rs 152.73 crore for the December quarter, over the year-ago period.
Total income also decreased to Rs 4,340.43 crore for the latest quarter against Rs 4,621.52 crore for the same period previous fiscal, Tata Power Company said in a filing to the Bombay Stock Exchange.
"The provision of write-offs for deferred stripping expenses in the Indonesian coal mines though has reduced the net profit, but in no way affected the long term performance of the coal companies," Tata Power managing director Prasad R Menon said.
For the nine-month period ended December 31, the private power producer posted a net profit of Rs 1,113.65 crore against Rs 1,351.17 crore for the same period last fiscal.
Tata Power closed at Rs 1,265.05 on BSE, down 0.49 per cent from its previous close.