BackTata Power posts Rs111.3 crore net loss
Gross revenue dropped 6% to `8,765.65 crore in June quarter from `9,339.49 crore in the same period last year
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Mumbai: Tata Power Co. Ltd, the country’s largest integrated power utility, said its first-quarter loss narrowed to ₹ 111.3 crore from ₹ 114.7 crore in the year earlier.
Gross revenue declined 6% to ₹ 8,765.65 crore in the three months ended 30 June from ₹ 9,339.49 crore in the same period last year, the company said on Tuesday.
“During the first quarter of fiscal 2015, the company reported robust operational performance by its business and subsidiaries. We are delighted to update that we commissioned yet another large solar project of 25 megawatts (MW) in Palaswadi, Maharashtra. We have achieved a presence of 1,206 MW installed capacity in the clean energy space," said Anil Sardana, chief executive officer and managing director, Tata Power.
Stating that the company was looking for quicker resolution of issues, he said that the Appellate Tribunal for Electricity (Aptel) interim order has directed procurer states to make payments related to billing from March 2014 onwards as per the compensatory orders of Central Electricity Regulatory Commission (CERC).
Shares of Tata Power gained 0.28% to ₹ 91 on Tuesday on BSE, while the benchmark Sensex gained 1.42% to close at 25,880.77 points. The BSE Power Index gained 1.3% to close at 2,076.75 points.
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