CESC Q4 Review - Good Earnings In A Challenging Environment: ICICI Securities
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ICICI Securities Report
CESC Ltd. has reported better-than-estimated earnings for its consolidated business in Q4 FY21.
Standalone/consolidated profit after tax came in at Rs 2.7 billion/Rs 4.2 billion, down 3.6%/up 8% YoY, mainly due to strong Kolkata operations, where transmission and distribution losses were lower than normative at 8.3% and power sales were 5.8% higher.
As a result, Haldia’s plant load factor continued to be strong.
Chandrapur turned profit after tax positive in FY21 (Rs 1,060 million profit after tax versus loss of Rs 100 million in FY20) aided by reduced interest expense due to debt repayment and higher plant load factors.
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