Mumbai, May 19 (IANS) Integrated power company Tata Power on Friday reported a consolidated net loss for the fourth quarter (Q4) of 2016-17 due to one-time provision.
According to the company, it had to make a one-time provision of Rs 651 crore pursuant to “DOCOMO arbitration award”.
After the provision, the company’s consolidated net loss during the quarter under review stood at Rs 246.90 crore from a profit of Rs 82.95 crore in the corresponding period of 2015-16.
The company said its FY17Q4 consolidated PAT stood at Rs 389 crore (before share buyback impact from DOCOMO of Rs 651 crore) as against Rs 22 crore during FY16Q4.
Tata Power’s consolidated total income during the quarter under review marginally declined to Rs 7,392.95 crore from Rs 7,434.10 crore earned during Q4 of FY16.
This is published unedited from the IANS feed.