Tata Power’s April-June quarter’s consolidated profit was seen rising 36 per cent year-on-year (YoY) to Rs.28 cr due to decrease in finance cost after loan refinancing, as per the average of estimates of the analysts polled by CNBC-TV18. Higher profitability at Maithon, higher EBIT spread for coal and lower losses at Mundra might drive bottomline.
Revenue is likely to be flat at Rs.9,250 cr for the quarter as compared to Rs.9,235 cr year-ago period. Its operating profit might slump 5 per cent to Rs.2,073 cr and margin might shrink 112 basis points to 22.5 per cent on yearly basis. Meanwhile, Tata Power share price was trading 0.91 per cent higher at Rs.77.75 on NSE today. It opened at Rs.77.90 from a previous closing of Rs.77.05.
Analysts expect power generation of 10,337 million units as compared to 11,170 million units year-on-year (YoY) and flat volumes at Mundra to offset by higher volumes at Delhi and Mumbai circles. They see lower losses at Mundra because of lower fuel cost and coal processing charges.
As per analysts, dip in coal price might reduce profitability in coal business but aid profitability for power business. The analysts expect tax rate to decrease from over 45 per cent to 35 per cent. Key points to watch out for would be compensatory tariff order, Docomo pay off, sale of BUMI mines and Mundra losses.
For details on the support and resistance levels of the scrip, please visit Tata Power share price history.
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