Reliance Power’s Revenue Misses The Mark For Two Straight Quarters
Reliance Power reported a decline in net profit, in the second quarter to come in at Rs 272.07 crore which is a dip of 6.24 percent over the Rs 290.19 crore figure posted in the same period last year. The bottomline missed the consensus figure of Rs 301.2 crore of analysts tracked by Bloomberg.
Higher finance cost of Rs 693.64 crore in the second quarter dragged the profitability of the company.
Total income declined 7.61 percent year-on-year to come in at Rs 2,472.73 crore from Rs 2,676.41 crore.
The only positive is earnings before interest, tax, depreciation and amortisation beat Bloomberg estimates rising 1.24 percent to Rs 1,144.30 crore,. Margins expanded by 40 basis points to 46.27 percent from 42.22 percent in the same quarter last year. Bloomberg consensus estimates stood at Rs 1,094.4 crore for the quarter ended September 30, 2016.
EBITDA margin showed some improvement on account of 13 percent decline in fuel cost to come in at Rs 1,096.14 crore in the second quarter compared to Rs 1,253.94 crore in the same period last year.
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