Tata Power Company Ltd's Q3FY17 Consolidated Net Profit Rises Five Fold To Rs.173 Crore

Tata power Company Ltd.'s Q3FY17 consolidated results for the quarter registered a miss versus consensus estimates. Revenue for the quarter came in 21.5 % lower than the estimated figure of Rs. 8510 crore. EBITDA for the quarter came in 13.6 % lower than the estimated figure of Rs. 1625 crore. And lastly, net profit for the quarter came in 44.3 % lower than the estimated figure of Rs. 309.7 crore.

Tata power Company Ltd. consolidated revenue for the quarter came in at Rs. 6684 crore, registering 9.1% yoy decline.

EBITDA for the quarter fell by 27.1% yoy to Rs. 1403 crore with a corresponding margin contraction of 518 bps. EBITDA margin for the quarter stood at 21%. This margin contraction was aided by increase in fuel costs by 14% yoy to Rs.2284 crore.

The PAT for the quarter came in at Rs. 172.6 crore, a five fold increase in this quarter. This was due to sharp decline in effective tax rate to 28% vs 60% in Q3FY16 and increase in other income by 12.4% yoy.

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