2025-01-10 15:38:11 :
BENGALURU (Reuters) – Indian power generation and distribution company CESC reported on Friday third-quarter profit fell due to higher tax expenses and lower regulatory revenue.
The company’s consolidated profit fell 5.7% year-on-year to 2.65 billion rupees ($30.8 million) in the three months ended December 31.
Total tax expenditure increased by 27% to Rs 800 million.
Regulatory revenue, which includes adjustments related to fuel costs, power purchases and other fixed costs, fell to 3 billion rupees from 560 million rupees a year ago.
Regulatory revenue and pre-tax profit for the quarter were Rs 62 crore, compared with a loss of Rs 196 crore in the same period last year.
Operating income rose 9.8% to Rs 3,561 crore due to higher power generation.
After the financial report was released, China Exchange’s share price fell 4.6%.
Analysts at Elara Capital said CLP Power’s third-quarter revenue is expected to be boosted by higher generation and lower distribution losses.
The brokerage said the company’s distribution business was likely to benefit from a reduction in total technical and commercial losses.
Valuation Estimates (Views from the Next 12 Analysts
RIC PE EV/EBI revenue profit average# of Stock to Div
TDA Growth Rate (%) Growth Rate (%) Rating* Analyst Price Yield
China Exchange Services 13.13 8.52 8.34 12.97 Buy 9 0.84 2.51
Torrent Power 26.06 12.55 9.70 15.34 Hold 8 1.00 1.10
NTPC 13.79 8.87 6.73 9.08 Buy 18 0.74 2.09
Tata Power empty 12.45 9.20 18.22 maintained 19 0.84 0.53
* An average of analyst ratings normalized to Strong Buy, Buy, Hold, Sell and Strong Sell ** The ratio of a stock’s last closing price to the average analyst price target; A ratio above 1 means the stock is trading above PT
Stock performance from October to December
— All data comes from LSEG Data
(Reporting by Anuran Sadhu in Bengaluru; Editing by Mrigank Dhaniwala)
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