The power producer had reported a consolidated net loss of R628.75 crore in the year-ago period. These figures are after taxes, minority interest and share of profit/loss of associates.
According to a regulatory filing, the companys total
income climbed to R9,071.97 crore in the January-March quarter, from R7,127.69 crore in the year-ago period.
For the entire 2012-13 fiscal, Tata Power saw its consolidated net loss narrow to R85.43 crore as the provisioning for impairment loss related to Mundra Ultra Mega Power Project (UMPP) came down sharply. It was R1,087.68 crore in 2011-12.
Tata Power said the management has reviewed and re-assessed the recoverability of the carrying amount of the assets at Mundra project by taking into consideration fuel cost, exchange rate variation and other operating costs that would impact future cash flows.
Subsequently, the company has decided to have a provision for impairment loss of R850 crore for the year ended March (R1,800 crore for the year ended March 2012) in CGPL, the filing said.
The 4,000 MW Mundra project is being executed by Coastal Gujarat Power (CGPL), a wholly-owned subsidiary of Tata Power.
Consolidated total income went up to R33,206.99 crore in 2012-13, from R25,845.11 crore in the previous fiscal.
On a standalone basis, net profit rose to R200.03 crore in the fourth quarter last fiscal. In the comparable period, the same stood at R116.97 crore.
However, total income fell to R2,334.65 crore in the latest March quarter compared with R2,367.81 crore in the same period a year ago. For the full year ended March this year, the companys standalone net profit dropped to R1,024.69 crore against R1,169.73 crore recorded in the comparable period.
On the other hand, standalone total income increased to R10,261.33 crore in 2012-13. Last fiscal, it was at R9,479.30 crore. The board of directors has recommended a dividend of R1.15 per share for the last fiscal. Tata Power scrip closed at R90.30, up 0.33% on the BSE.