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The Hindu

National

The Hindu Bureau

Tangedco’s losses narrowed in fiscal 2023 after tariff revision, says ratings firm

Tangedco Tamil Nadu India Ratings

Tamil Nadu Generation and Distribution Corporation Limited’s (Tangedco) net loss narrowed in fiscal 2023, after the tariff revision which came into effect from September 10 last year, according to a ratings report.

The power utility’s losses narrowed to ₹5,523 crore in fiscal 2023 from ₹11,955 crore in fiscal 2022, ratings firm India Ratings and Research said in its report.

The firm expects Tangedco’s net loss to narrow further in fiscal 2024, with the Tamil Nadu Electricity Regulatory Commission (TNERC) allowing a yearly revision in tariff and improvement in operational efficiency.

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