TATA POWER Q4 RESULTS TODAY; CAN THIS TATA STOCK SUSTAIN RALLY? HERE'S EARNINGS PREVIEW
Tata Power Ltd, whose shares are up a solid 71 per cent in the last six months, has seen some weakness of late. The stock is down 3.5 per cent in the last five sessions ahead of the Tata group firm's March quarter results that are scheduled for later today.
JM Financial sees Tata Power's profit rising 8 per cent YoY to Rs 838.20 crore, as it expects DISCOMS to post better-than-expected performance. Sales are seen climbing 21 per cent YoY to Rs 15,090 crore amid strong execution in the RE capacity & operationalisation of Mundra. JM Financial sees margin expanding 344 points YoY to 19 per cent.
Elara Securities, on the other hand, sees Tata Power clocking a 2.2 per cent year-on-year rise in recurring profit after tax at Rs 959 crore on 6.8 per cent YoY rise in sales at Rs 13,301 crore. Ebitda for the quarter is seen up 13.9 per cent YoY at Rs 2,194.70 crore.
Key monitorables going forward would be sustainance in power demand, trend in international coal prices, and the pace of transition to clean energy. "Overall, we remain positive on the utilities space with likely stability in power demand and continued momentum in energy transition," JM Financial said.
Tata Power's profit after tax for the first nine months declined 6 per cent YoY, adjusted for one-off ITPC regulatory income and lower dividend tax on coal profits. CGPL (Mundra UMPP) reverted to losses in the December quarter, driven by coal profit sharing as CGPL had to source coal from captive KPC mines this quarter against third-party coal procurement. The nine-month coal profits was down by an estimated 81 per cent on falling coal realisation. This was offset by rising profits of Solar EPC and Odisha distribution.
The company's arm Tata Power Renewable Energy has recently signed a PPA with SJVN Limited to set up 460 MW firm and dispatchable renewable energy projects.
2024-05-08T02:54:20Z dg43tfdfdgfd