Tata Power Q3 PAT seen up 4% at Rs 460 cr

Tata Power, a part of Tata group, is likely to report a consolidated profit after tax of Rs 460 crore in the October-December quarter of FY12, a growth of 4% as compared to Rs 442 crore in a year ago quarter.

Total income is expected to go up by 46% to Rs 6,465 crore from Rs 4,441 crore year-on-year. EBITDA is seen going up by 40% to Rs 1,473 crore from Rs 1,054 crore during the same period.

Operating profit margin is seen improving at 22.79% in the December ended quarter of FY12 as against 23.75% in the corresponding quarter of last fiscal.

What to expect -

- Sequential improvement in merchant tariffs could improve contribution from Haldia and Trombay

- Expect good revenue and EBITDA growth on the back of higher coal realization

- Interest, depreciation and tax expenses to impact bottom line

- Could see MTM losses due to forex fluctuations

- Expect Maithon, which was commissioned in Q2, to start contributing to profitability

- Need to watch for any further impairment charges against Mundra UMPP

Key factors to watch -

- Update on Mundra project

- Merchant realization

- Coal price realization

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