CESC Ltd Q3 PAT flat at Rs329cr as higher regulatory income offsets higher operating costs

13 Jan 2022 , 10:31 PM

CESC Ltd reported 1.51% growth in total revenues for the Dec-21 quarter on consolidated basis at Rs2,826cr. During the year, CESC had acquired 23.18% in Noida Power Company making it a subsidiary.

Higher electricity deferral credits in the current quarter more than compensated for the higher electricity generation costs and higher fuel costs.

This resulted in flat profits in the quarter. The company has declared an interim dividend of Rs.4.50 per share. During the quarter, the company had also subdivided the Rs.10 share into 10 shares of face value Rs.1 each.

The consolidated Profit after tax (PAT) for the Dec-20 quarter was flat at Rs329cr on the back of deferred regulatory gains in the quarter which more than offset the higher cost of fuel and electricity inputs.

As a result, the PAT margins were marginally lower from 11.78% in Dec-20 to 11.64% in Dec-21 quarter. For the quarter, the debt service coverage ratio improved from 1.15 to 2.06 on yoy basis while current ratio fell from 0.83 to 0.65 yoy. The debtor turnover ratio at 1.29 and the inventory turnover ratio at 1.91 were relatively higher on yoy basis.

Financial highlights for Dec-21 compared yoy and sequentially

	CESC Ltd
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 2,826.00	₹ 2,784.00	1.51%	₹ 3,494.00	-19.12%
Net Profit (Rs cr)	₹ 329.00	₹ 328.00	0.30%	₹ 335.00	-1.79%
Diluted EPS (Rs)	₹ 2.48	₹ 2.48		₹ 2.53
Net Margins	11.64%	11.78%		9.59%