RIL Power Q4 PAT seen down 4% at Rs 306.4 cr: ICICI Securities

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ICICI Securities has come out with its first quarter (April-June) earnings estimates for the Power and coal sector. The brokerage house expects Reliance Power to report a 4.2 percent degrowth quarter-on-quarter (down of 11.0 percent year-on-year) in net profit at Rs 306.4 crore.Sales are expected to increase by 11.5 percent Q-o-Q (up 5.6 percent Y-o-Y) to Rs 2904.4 crore, according to ICICI Securities.Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 8.2 percent Q-o-Q (up 16.4 percent Y-o-Y) to Rs 1341.9 crore.ICICI Securities's report on Reliance PowerReliance Power’s Q4FY16 revenue is expected to increase 5.6 percent Y-0-Y primarily due to higher generation (+15.2 percent Y-0-Y) and increased realization (+17p/kWhr Y-0-Y) at Sasan.During the quarter, Reliance Power reported a PLF of 89 percent (+817bps Y-0-Y; +488bps Q-o-Q). At plant level, Sasan operated at a PLF of 91.5 percent, Butibori at 85.1 percent and Rosa at 79.1 percent.Q1FY17 EBITDA is expected to increase 16.4 percent Y-0-Y, driven by growth in revenue and lower fuel costs.However, we expect Q1FY17 PAT to decline 11 percent Y-0-Y as gains from higher EBITDA is likely to be more than offset by higher interest cost (+37 percent Y-0-Y) and depreciation expense (+4.8 percent Y-0-Y).Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.