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Azure Power, a solar energy firm, has posted widening of net loss of Rs 51.43 in the third quarter ended December, 2016-17, on higher taxes.
Azure Power has said in a statement that “Net loss for the quarter ended December 31, 2016 was Rs 51.43 crore (USD 7.6 million), an increase of Rs 141.4 million (USD 2.1 million) as compared to the same period in 2015. This was primarily due to an increase in income tax expense during the period.”
It has said that the income tax expense increased during the October-December quarter of 2016-17 by Rs 19.99 crore to Rs 33.46 crore, compared to the same period in 2015-16.
