Tokyo Electric Power Co (TEPCO) booked a quarterly operating loss of 83.8 billion yen (1.08 billion dollars) mainly due to mounting fuel costs for thermal power to replace decreased nuclear generation after last year's atomic accident, the company said Monday, February 13.

The figure was a reversal from an operating profit of 91.1 billion yen during October-December of 2010, the operator of the Fukushima Daiichi Nuclear Power Station said.

The plant was hit by the March 11 earthquake and tsunami, causing a series of blasts and fires that triggered the massive release of radioactive material into the environment. Three of the six reactors suffered meltdowns, and more than 80,000 residents were forced to leave the area.

TEPCO also posted a net profit of 4.29 billion yen for the quarter, compared to a net profit of 47.6 billion yen a year earlier. Sales were up 3.9 per cent to 1.3 trillion yen for the period, from 1.25 trillion yen.

The company projected a net loss of 695 billion yen for the financial year through March, larger than the 600-billion-yen net loss that the utility had predicted three months ago.

It also projected an operating loss of 265 billion yen on expected sales of 5.28 trillion yen.

The government approved a request Monday for 690 billion yen of aid for the operator, which faces claims from victims.

That will raise the total amount of government aid to more than 1.5 trillion yen.

Shares in the utility closed up 0.5 per cent to 201 yen Monday. The stock has lost 91 per cent of its value since last year's high of 2,197 yen, M&C reported quoting DPA.