Tata Power booked a net loss of Rs 145.33 crore for Q4FY14 against the net profit of Rs 181.36 for Q4FY13 on a consolidated basis. This was attributed to the full operation of Mundra Ultra mega Power Plant, said a company statement.

Besides there was also an impact of “exceptional item accounted last year which is one time impact of depreciation rate adjustment,” the statement added.

Consolidated revenue for the same period was down 2 per cent from Rs 9,032.46 crore to Rs 8,844.5 crore.

The company’s FY14 topline grew 8 per cent from last year’s Rs 33,025.43 crore to Rs 35,648.7 crore. Net loss for FY14 was Rs 259.97 crore as against FY13’s net loss of Rs 85.43 crore due to forex losses.

Tata Power has recommended a dividend of Rs 1.25 per share of face value Rs 1 each to the shareholders for FY14.

Mundra UMPP

The Mundra UMPP is being implemented by Coastal Gujarat Power Ltd, a wholly-owned subsidiary of Tata Power.

CGPL posted revenues of Rs 1,578.63 crore in the latest quarter as compared to Rs 1,345.50 crore in Q4 FY13, a jump of 17 per cent on account of full operations of five units.

However, CGPL incurred a net loss of Rs 327.72 crore in the March quarter, whereas the net loss was at Rs 146.87 crore in the year-ago period.

Tata Power Managing Director Anil Sardana said that last fiscal, the company continued its strong operational performance across all its businesses despite very challenging circumstances.

“CGPL has not recognised aggregate revenue of Rs 1,019.06 crore for the present towards compensatory tariff, considering that a payout is awaited and we hope this get resolved quickly,” he said in a statement.

According to him, the company has received independent legal advice that it has good arguable case and is monitoring progress closely.

“On the distribution front, the quarter also witnessed significant investments and has grown network in Mumbai and Delhi and looks forward to progress in Jamshedpur circle soon,” he added.

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