NTPC's fourth quarter earnings are expected to be tepid as profit is seen falling 15 percent year-on-year to Rs 2,490 crore and revenue may decline 5 percent to Rs 18,322 crore, according to average of estimates of analysts polled by CNBC-TV18.
Operating profit (EBITDA - earnings before interest, tax, depreciation and amortisation) is likely to increase 5 percent to Rs 4,895 crore and margin may expand 263 basis points to 26.7 percent compared to year-ago period.
Adjusted profit may decline on lower efficiency gains and other income. Year-ago period base was higher due to Q4 fixed cost recovery being higher.
Other income is expected to be plunge 33 percent YoY as change in CERC's regulations has reduced incentives earned by NTPC.
Regulated equity base is likely to increase to around Rs 41,800 crore, 13 percent higher YoY and 6 percent QoQ. Generation for the quarter is expected to increase 2-3 percent YoY to 62-63 billion kWh, mainly due to commencement of BarhII, Koldam and higher PLF at the Mauda plant.
Key issues to watch for:-Plant load factor for coal-based projects and generation loss-Core return on equity and incentives-Final order of Delhi High Court on new tariff regulations for FY14-19-FY17 capacity start-up target
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