{"id":399752,"date":"2021-02-09T12:24:53","date_gmt":"2021-02-09T06:54:53","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=399752"},"modified":"2021-02-09T13:16:32","modified_gmt":"2021-02-09T07:46:32","slug":"coastal-gujarat-power-merger-with-tata-power-by-february-end","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/coastal-gujarat-power-merger-with-tata-power-by-february-end\/","title":{"rendered":"Coastal Gujarat Power merger with Tata Power by February-end"},"content":{"rendered":"<p>Coastal Gujarat Power (CGPL), the wholly owned subsidiary of Tata Power, turned cash-positive in the October-December quarter of 2020 after fuel under recovery reduced further to Rs 0.32 per unit from Rs 0.40 per unit a year ago on lower imported coal prices. Going forward, the merger of CGPL with Tata Power expected by February-end will provide Rs 10,000-crore tax break to the parent over several years.<\/p>\n<p>Over the last 10 years CGPL has made cumulative losses (ex-impairment) of Rs 9,400 crore till FY20 on aggressive bids and adverse coal and currency movement. The tax break is expected to be value accretive for Tata Power as its profitability will improve on deleveraging and asset divestment gains.<\/p>\n<p>CLSA Securities, in its report on Tata Power, said the company will host a shareholders meet this month to approve of the merger of its subsidiaries, Coastal Gujarat Power (CGPL) &amp; Tata Power Solar (TPSSL) into the parent. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coastal Gujarat Power (CGPL), the wholly owned subsidiary of Tata Power, turned cash-positive in the October-December quarter of 2020 after fuel under recovery reduced further to Rs 0.32 per unit from Rs 0.40 per unit a year ago on lower imported coal prices. Going forward, the merger of CGPL with Tata Power expected by February-end will provide Rs 10,000-crore tax break to the parent over several years. Over the last 10 years CGPL has made cumulative losses (ex-impairment) of Rs 9,400 crore till FY20 on aggressive bids and adverse coal and currency movement. The tax break is expected to be [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,240,138],"tags":[],"class_list":["post-399752","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/399752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=399752"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/399752\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=399752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=399752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=399752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}