Published on 14/02/2018 3:03:39 PM | Source: Reuters

Tata Power Q3 profit drops, beats estimate

India's Tata Power Co Ltd reported a marginal drop in quarterly profit, but beats analysts' forecasts.

Profit attributable to owners came in at 6.12 billion rupees ($95.41 million) in the quarter ended Dec. 31, compared with a profit of 6.19 billion rupees a year ago, the company said on Wednesday. 

Analysts on average expected the Mumbai-based company to post a profit of 4.26 billion rupees, Thomson Reuters data showed.

Revenue from its power business was up 7 percent to 66.85 billion rupees for the quarter.

($1 = 64.1450 Indian rupees)

(Reporting by Vishal Sridhar in Bengaluru; Editing by Sherry Jacob-Phillips)