CESC Ltd's Q2FY19 standalone net profit rises 9.7% yoy to Rs271cr : In-line with Estimates

The company’s standalone revenue stood at Rs2,220cr, up 6.3% yoy and 2.5% qoq

Nov 14, 2018 01:11 IST India Infoline Research Team


Standalone Results Q2FY19: (Rs. in cr)

Q2FY19 YoY (%)
Revenue 2,220 6.3
EBITDA 511 1.2
EBITDA Margin (%) 23 [117]
Net Profit (adjusted) 271 9.7
***EBITDA margin change is bps

CESC Ltd's results for Q2FY19 were largely in-line for revenue and net profit. Revenue grew by 6.3% yoy to Rs2,220cr (expectation Rs2,134cr). EBITDA stood at Rs511cr, up 1.2% yoy against estimates of Rs522cr. EBIDTA margin fell by 117bps yoy to 23%. Net Profit stood at Rs271cr against an estimate of Rs252cr. Earnings and estimates are on a standalone basis.
  • The company saw significant rise in fuel costs yoy in Q2FY19. Fuel and power purchase costs rose by 15.4% yoy and 5.9% yoy respectively.
  • Employee costs rose by 16.5% yoy in Q2FY19.
  • Net profit for Q2FY19 beat estimates as regulatory incomes came in at Rs37cr for the quarter.
  • Tax rate for 1HFY19 stood at 21.6%, unchanged from the tax rate for FY18.

Technical View:

CESC Ltd is currently trading at Rs. 682.35, down by 14.75 points or 2.12% from its previous closing of Rs. 697.10 on the BSE.
The scrip opened at Rs. 702.75 and has touched a high and low of Rs. 704.85 and Rs. 671.10 respectively. So far 10,89,605 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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