Kolkata-based power utility company CESC's third quarter earnings are expected to be positive on yearly basis but may disappoint on sequential basis. Profit is seen rising 17 percent year-on-year (down 33 percent QoQ) to Rs 130 crore during the quarter, according to analysts polled by CNBC-TV18. Earnings will be announced on February 9.
Revenue is likely to go up 18 percent (down 16.7 percent QoQ) to Rs 1,476 crore in quarter ended December 2015 compared to Rs 1,249 crore in corresponding quarter of last fiscal.
Operating profit (earnings before interest, tax, depreciation and amortisation) in Q3 may increase 18 percent YoY (down 19.6 percent QoQ) to Rs 352 crore and margin may remain flat on yearly basis but may fall 90 basis points to 23.8% on sequential basis.
Analysts say higher generation at Haldia plant may be offsetting lower volume at the Southern and Titagarh plants.
According to them, generation for the Kolkata circle increased 29 percent to 2.6 billion units while older plants saw a volume dip of 20 percent to 1.6 billion units, with multi-year low plant load factor (PLF). Tariff is expected to increase to 6.9/KwH, up 8 percent YoY.
Spencer's Retail revenue per square feet is expected to increase 10 percent YoY due to opening of new stores last quarter. They expect same store operating profit per square feet at Rs 95 in Q3 against Rs 86 in Q3FY15.
Key factors to watch out for would be mitigation of dent from Sarisatolli block—coal linkage, performance of retail business and developments on power purchase agreements.
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