CESC Ltd's Q3FY19 standalone net profit rises 13.1% yoy to Rs173cr: Misses Estimates

The company’s standalone revenue in the quarter stood at Rs1,707cr, down 0.4% yoy and 23.1% qoq.

Feb 05, 2019 01:02 IST India Infoline Research Team


Standalone Results Q3FY19: (in Rs cr)

Q3FY19 YoY (%)
Revenue 1,707 [0.4]
EBITDA 202 [35.7]
EBITDA Margin (%) 11.8 [650]
Net Profit (adjusted) 173 13.1
***EBITDA margin change is bps

CESC Ltd results for Q3FY19 missed expectations on the revenue and EBITDA front. Revenue fell by 0.4% yoy to Rs1,707cr (expectation Rs1,829cr). EBITDA stood at Rs202cr, down 35.7% yoy against estimates of Rs388cr. EBIDTA margin fell by 650bps yoy to 11.8%. Net Profit stood at Rs173cr (up 13.1% yoy) against an estimate of Rs161cr.
  • The company reported a sharp dip in EBITDA margins due to higher employee and fuel costs. Fuel and employee costs rose by 12.4% yoy and 18.5% yoy respectively.
  • Net profit for Q3FY19 beat estimates as regulatory incomes came in at Rs200cr for the quarter (against Rs69cr for Q3FY18).
  • Tax rate for 9MFY19 stood at 21.6%, unchanged from the tax rate for FY18.

Technical View:

CESC Ltd is currently trading at Rs. 681, down by 0.75 points or 0.11% from its previous closing of Rs. 681.75 on the BSE.
The scrip opened at Rs. 684 and has touched a high and low of Rs. 699.60 and Rs. 670 respectively. So far 11,87,412 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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