Tata Power has dipped 8% to Rs 93 after reporting a consolidated net loss of Rs 1,219 crore for quarter ended September on account of provision for impairment of Coastal Gujarat Power (CGPL) assets and foreign exchange loss amounting of Rs 1,462 crore. The leading power utility had a consolidated net profit of Rs 673 crore in the same quarter of the last fiscal.
However, the company's total income jumped to Rs 6,282 crore from Rs 4,810 during the recently concluded quarter.
“The quarterly loss was due to provision made for impairment of Rs 823 crore and forex loss of Rs 639 crore incurred by CGPL", the company said in a filing to the stock exchanges.
A combined 427,000 shares have changed hands on the counter in opening deals.