Reliance Power Q1 net may dip 0.9% at Rs 237cr: P Lilladher

Prabhudas Lilladher has come out with its first quarter (April-June) earnings estimates for the power sector. The brokerage house expects Reliance Power to report a 10.8 percent degrowth quarter-on-quarter (degrowth of 0.9 percent year-on-year) in net profit at Rs 237.3 crore.

Revenues are expected to decrease by 0.2 percent Q-o-Q (up 9.6 percent Y-o-Y) to Rs 1245 crore, according to Prabhudas Lilladher. Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall by 5.8 percent Q-o-Q (up 19.4 percent Y-o-Y) to Rs 435.8 crore. EBITDA margin or operating profit margin is likely to be at 35 percent in June quarter as against 37.1 percent in March quarter and 32.1 percent in a year ago period. Prabhudas Lilladher on Reliance Power Post Sasan, UMPP declared COD of its Unit 1 of 660MWs in March 2013. CERC has ruled that the project has not commenced commercial operations since it did not meet the set testing parameters. The company has maintained that the MoU has stated no particular duration in the first year of plant to be declared commercially operational. We are expecting a five percent growth in generation Q-o-Q.