India's CESC posts 9% rise in Q1 profit on summer, industrial demand

CESC

09/08/2024 12:41

BENGALURU, Aug 9 (Reuters) - Indian electrical utility company CESC  CESC.NS  posted an 8.9% rise in
first-quarter profit on Friday, helped by surging power demand.
    The Kolkata-based company said its consolidated net profit rose to 3.78 billion rupees ($45 million) in the
April-June quarter from 3.47 billion rupees a year ago.
    Revenue from operations rose 12.8% to 48.63 billion rupees.
    For further results highlights, click  urn:newsml:reuters.com:*:nFWN3JW1AH

    KEY CONTEXT
    India experienced a sharp rise in power demand amid sturdy manufacturing activity and scorching weather in a
summer that stretched beyond the March-May period into June.
    The impact of the industrial and summer demand also reflected in the earnings of peers Tata Power  TTPW.NS 
and Torrent Power  TOPO.NS . 
 
 PEER COMPARISON 
                                 Valuation      Estimates (next 12       Analysts' sentiment              
                                 (next 12       months)                                                   
                                 months)                                                                  
                      RIC        PE     EV/EBI  Revenue     Profit       Mean     # of     Stock to       Div
                                        TDA     growth (%)  growth (%)   rating*  analyst  price          yield
                                                                                  s        target**       (%)
 CESC Ltd              CESC.NS   13.39  9.38    11.86       18.66        Buy      8        1.05           2.58
 Torrent Power Ltd     TOPO.NS   34.16  16.15   14.20       24.56        Hold     10       1.33           0.92
 NTPC Ltd              NTPC.NS   17.97  10.91   6.42        7.96         Buy      15       0.96           1.90
 Tata Power Company    TTPW.NS   30.89  13.74   12.31       21.14        Hold     20       1.06           0.48
 Ltd                                                                                                      
 * Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
 ** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading
above the PT
    
    APRIL-JUNE STOCK PERFORMANCE
 
    
    -- All data from LSEG Data
    -- $1 = 83.9260 rupees

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CESC APRIL-JUNE STOCK    https://tmsnrt.rs/46MJ479
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 (Reporting by Yagnoseni Das in Bengaluru; Editing by Eileen Soreng)
 ((Yagnoseni.Das@thomsonreuters.com;))