ICICI Direct: CESC - Subsidiaries’ Performance Robust In Q2; Base Business Muted
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Consistent improvement of generation and distribution subsidiaries was the key takeaway in CESC Ltd.’s Q2 FY21 results as Dhariwal Infra posted profit for H1 FY21 while losses at the distribution level fell sharply.
On a standalone basis, Q2 FY21 results were below estimates on all fronts as energy sold came in lower-than-expected on account of lockdown.
Ebitda was impacted mainly on account of higher employee costs and other expenses. Even profit after tax was aided by negative tax charge.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.