Power generation company CESC's first quarter profit after tax is expected to increase 12.2 percent year-on-year to Rs 171 crore driven by commissioning of Haldia project.
According to average of estimates of analysts polled by CNBC-TV18, revenue is likely to fall 3.9 percent to Rs 1,790 crore from Rs 1,863 crore on volume contraction.
Volume is likely to report a 14 percent contraction despite 12 percent growth for Kolkata. However, a tariff increase of 14 percent may help offset volume drop.
Budge Budge plant load factor may be flat at 97.8 percent year-on-year. Budge Budge Thermal Power Station is crucial for incentive income for CESC while Dhariwal plant was shut during the quarter.
Operating profit is seen rising 4.8 percent year-on-year to Rs 396 crore and margin may expand 180 basis points to 22.1 percent in the quarter gone by.
Analysts do not see much reaction unless there is any significant change in Spencer’s numbers.
Key issues to watch out for would be performance of Spencer’s (same-store-sales growth, store-level EBITDA), details of operations of Chandrapur (Dhariwal plant is lying idle while Chandrapur plant has reported no generation since last 2 quarters), dent on earnings from non-recovery of cost of mining at Sarisatolli block & performance of retail business, and approval of bid premium on Sarisatolli mines.
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