Tata Power
Lights seem to have dimmed at Tata Power due to its dismal performance for Q2FY15 wherein it announced a consolidated loss of Rs.78 crore due to lower topline. The company had a profit of Rs.75 crore in previous Q2. Its revenue fell over 4% at Rs.8394 crore. The company has stated that the poor performance was on account of lower realization by coal companies and lower fuel cost in Mumbai operations. The company’s interest cost is also pretty steep at Rs.980 crore for the quarter and for H1FY15 it was at Rs.1706 crore. Its borrowings as at 30th Sept 2014 stood at Rs.35,850 crore and this has gone up from Rs.35,177 crore in previous year.
In terms of segment-wise performance, revenues from power fell 3% due to lower fuel cost due to lower generation and lower volume traded by Tata Power Trading Company Limited (TPTCL). Segment result of power rose 12% due to lower depreciation charge in Coastal Gujarat Power Limited (CGPL). Revenue from coal business fell 10% and while EBIT fell 26% due to lower price realisation from coal companies despite higher volumes sold. Despite falling global coal prices, losses in coal companies have been minimized by prudent cost control measures.
In terms of its power generation, consolidated generation for the quarter stood at 10,946 million units (MUs). Mundra reported generation of 5722 MUs as compared to 5425 MUs in corresponding quarter last year. Maithon plant reported 1577 MUs as compared to 1211 MUs. Trombay Thermal Power Station generated 1416 MUs while Hydro Power Stations generated 398 MUs. Wind Farms generated 282 MUs .Jojobera Thermal Power Station generated 818 MUs and Haldia reported generation of 209 MUs. Industrial Energy Limited reported generation of 468 MUs and. TPREL generated 55 MUs. Solar plants recorded generation of 1 MU.