Tata Power on Thursday reported a 92 per cent decline in consolidated net profit at Rs 107.32 crore for the quarter ended March due to an exceptional adjustment in the previous year. The company’s consolidated net profit stood at Rs 1,364.33 crore in the quarter ended March 31, 2018, it said in a statement. However, the company added that the consolidated net profit in the fourth quarter before the exceptional item stood at Rs 259 crore, up 119 per cent from Rs 118 crore in the year-ago period.
Tata Power had made provision for impairment of investment in Mundra and Georgia businesses in the fourth quarter of 2017-18. Total income of the company in the fourth quarter was Rs 7,416.89 crore compared to Rs 7,281.02 crore a year ago. For 2018-19, consolidated net profit came in at Rs 2,440.41 crore as against Rs 2,610.85 crore in the previous fiscal. Total income during the fiscal was at Rs 29,954.47 crore as compared to Rs 27,272.96 crore earlier.
