Tata Power's consolidated net profit (after tax and appropriations) declined by 40 per cent to Rs 263 crore in the October-December 2011 period, against Rs 442 crore in the corresponding year-ago period.
The profit numbers include profits from the power business, coal business and others.
In the nine months ended December 31, the company reported a net loss of Rs 538 crore, against a net profit of Rs 1,427 crore in the corresponding year-ago period.
In the reporting quarter, among others, profits were dragged down by sharp increase in fuel cost (up 66 per cent to Rs 1,757 crore vs Rs 1,056 crore in the corresponding year ago period); and cost of power purchased (up 51 per cent to Rs 1,285 crore vs Rs 850 crore).
A 70 per cent jump in other expenditure to Rs 916 crore (Rs 539 crore) and higher deferred stripping costs (net) of Rs 577 crore also impacted profits.
The company's total income increased by 50 per cent to Rs 6,660 crore (Rs 4,441 crore). Total expenditure jumped 65 per cent to Rs 6,004 crore (Rs 3,635 crore).
Standalone Profit
Despite a substantial rise in fuel cost, Tata Power reported a 174 per cent jump in stand-alone net profit (after tax and appropriations) at Rs 423 crore in the October-December 2011 period, against Rs 154 crore in the corresponding year-ago period.
The profitability was boosted in good measure by other income, which rose sharply by 382 per cent to Rs 410 crore (Rs 85 crore in the corresponding year-ago period) and 28 per cent fall in the cost of power purchased to Rs 126 crore (Rs 174 crore).
Further, a 62 per cent rise in other operating income to Rs 91 crore (Rs 56 crore) also helped the profit growth.
The cost of fuel jumped by 55 per cent to Rs 1,330 crore (Rs 856 crore).
During the reporting quarter, Tata Power generated 7 per cent more electricity at 3,970 million units (MUs), against 3,772 MUs in the year-ago period. It sold 3,922 MUs of electricity (3,824 MUs).
Revenue from power supply and transmission charges was up 35 per cent to Rs 2,161 crore (Rs 1,596 crore).