Tata Power consolidated operating profit, margins hit by Mundra losses

Tata Power Company’s consolidated operating profit for the July-September quarter dropped 16.22% year-on-year (YoY) to Rs 1,663.64 crore, led by higher losses at the Mundra ultra-mega power project due to a rise in cost of imported coal.

Higher cost of coal impacted the Mundra project’s plant load factor (PLF) and availability, even as overall thermal PLF grew during the period. PLF and plant availability for Coastal Gujarat Power, which owns the Mundra project, dropped to 25% in Q2FY22, as against 79% a year ago, while the PLF for Tata Power’s other thermal plants rose to 76% compared to 65% a year ago.