CESC Q3 Review - Stable Quarter: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.CESC Ltd. has reported steady earnings in its consolidated business in Q3 FY22. Its revenues were up 15.3% YoY to Rs 31.1 billion while profit after tax increased 1.5% YoY to Rs 3.3 billion. On standalone basis, revenues were up 5.1% YoY to Rs 18.6 billion while profit after tax increased 1.1% YoY to Rs 1.8 billion. Key factors impacting the consolidated profits during Q3 FY22 included:lower return on equity for Kolkata distribution business since the tariff order remains pending, due to which incremental RoE is not being booked;high merchant prices boosting Chandrapur’s profit by 79% YoY; lower demand at Rajasthan distribution franchises eroding profits by 91% YoY;7.8% YoY decline in Haldia’s profit due to a one-time cost reduction exercise in FY21, which benefitted Q3 FY21 profit;17.4% increase in Noida Power’s profit due to increase in CESC’s stake. CESC has declared an interim dividend of Rs 4.5/share for FY22..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

CESC Q3 Review - Stable Quarter: ICICI Securities

CESC Q3 Review - Stable Quarter: ICICI Securities

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