Improving Operational Performance; Eyes on Tariff Resolution for Mundra UMPP Post negative other comprehensive income, consolidated net profit of Tata Power Company (TPCL) rose by 77.0% yoy to Rs698mn in 2QFY17. However, its reported consolidated PAT before comprehensive income stood at Rs3.36bn (loss in 2QFY16) owing to lower MTM losses at Coastal Gujarat Power (CGPL) and better operating performances by key subsidiaries and Indonesian coal mines. Tariff issue at Mundra UMPP and operational issues in Mumbai area have been impacting stock performance for last 3-4 years. However, we believe that these issues...