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Tata Power Down; Q3 Consolidated Net Profit Down 40%

  • Shares of Tata Power Ltd, part of India's diversified Tata group, were lower in early trades after the company posted a 40 percent fall in its consolidated third quarter net profit.The company provided for impairment of 1.6 billion rupees to its unit, Coastal Gujarat Power Ltd, for the difference in forex losses, a Prabhudas Lilladhar note said.The company posted a higher interest cost of 4.21 billion rupees versus 2.1 billion rupees a year ago. At 10:23 a.m the stock was down 3.07 percent at 107.35 rupees.

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