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India electricity demand falls for 4th month as slowdown deepens

Companies like Tata Power and Adani Power grapple with weaker sales

A coal-burning plant in Ahmedabad, India.   © Reuters

MUMBAI (NewsRise) -- India's electricity demand dropped for the fourth straight month in November amid a slump in industrial activity, portending more trouble for private producers such as Tata Power and Adani Power that are grappling with shrinking profits and a debt pile.

Electricity demand in Asia's third-largest economy dropped 4.3% in November, the worst in two years, according to data from Central Electricity Authority, the government arm that monitors demand and supply of power. The demand, however, is an improvement over October when it shrunk more than 13%, the steepest monthly contraction in almost 12 years.

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