Adani Power Q3 net loss rises at Rs 619 cr; shares dive 4%

Adani Power reported higher-than-expected consolidated net loss of Rs 619 crore in the third quarter of financial year 2012-13 as against net loss of Rs 356.3 crore in a year ago period and analysts' forecast of Rs 120 crore.

Consolidated total income grew by 74.55 percent to Rs 1,884 crore from Rs 1,079.3 crore during the same period

Finance costs increased 41.6 percent YoY to Rs 531 crore in the October-December quarter.

Adani Power reported a foreign exchange loss at Rs 59 crore as against loss Rs 132 crore YoY. The company earned an exceptional gain of Rs 33.8 crore during the quarter.

The company has reappointed Rajesh Adani as Managing Director with effect from April 1.

At 14:15 hours IST, shares dropped nearly 4 percent to Rs 61.25 on Bombay Stock Exchange.

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