Adani Power Limited on Monday claimed a net loss above its expectations for the financial year's second quarter, Mint reported. India's largest private power producer said the consolidated net loss of Rs 114.40 crore was lower than last year's Rs 410.92 crore and cited reduced costs as a reason for the figure. According to Business Standard, the Gautam Adani-controlled company's BSE shares dropped by 2.53% to Rs 27 on Monday.

A company-issued statement said finance costs reduced by 13% to Rs 1,434 crore in the quarter that ended on September 30, as compared to Rs 1,650 crore last year. It said total expenses in Q2 remained flat at Rs 4,551.52 crore. Analysts had predicted the company would face a loss of Rs 76.93 crore on net sales of Rs 5,893.80 crore.

Adani Power Limited reported a rise in consolidated net sales by 0.4% to Rs 5,764.29 crore.