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RattanIndia Power loss narrows to Rs 389 cr in June quarter

RattanIndia Power loss narrows to Rs 389 cr in June quarter

There was an exceptional item (impairment loss) of Rs 437.73 crore during the last fiscal.

RattanIndia Power loss narrows to Rs 389 cr in June quarter RattanIndia Power loss narrows to Rs 389 cr in June quarter

RattanIndia Power on Monday reported narrowing of its loss to Rs 389.30 crore in the June quarter compared to the year-ago period.

The company had reported a consolidated net loss of Rs 824.42 crore in the quarter ended on June 30, 2021.

Total income of the company dipped to Rs 922.16 crore in the quarter from Rs 950.43 crore in the same period a year ago, according to a regulatory filing by the company.

There was an exceptional item (impairment loss) of Rs 437.73 crore during the last fiscal.

It stated that during the previous year ended 31st March 2022, STPL (Sinnar Thermal Power Ltd) had accounted for impairment loss amounting to Rs 437.73 crore against Capital work- in progress(CWIP) being amount incurred for development of Phase II.

The same was recorded as an exceptional item, in Statement of Profit & Loss, it added.
 

Published on: Jul 25, 2022, 9:44 PM IST
Posted by: Tarab Zaidi, Jul 25, 2022, 9:29 PM IST