Rising interest and raw material costs weighed heavily on Tata Power’s consolidated net profit in the fourth quarter of FY19. This limited the impact of the renewable business on the company’s consolidated performance. Tata Power reported a consolidated net profit of Rs. 107 crore, down 92 per cent over the same period last year. Consolidated revenue rose 5.6 per cent to Rs. 7,574 crore.
Excluding an additional Rs. 106.41 crore impairment provision for its 108-MW Rithala power plant and a Rs. 45-crore entry-tax provision for the Trombay plant and other exceptional items, net profit before exceptional items stood at Rs. 259 crore compared to Rs. 119 crore a year ago.
