CESC Ltd reported strong financial results in Q1FY24.
CESC Ltd, a Kolkata-based power utility company, reported strong financial results for the June quarter of 2023-24. Here’s an analysis of the key highlights from the earnings report:
- Consolidated Net Profit: CESC Ltd’s consolidated net profit saw an impressive surge of about 24% in Q1FY24, reaching Rs 368 crore. This growth was compared to a net profit of Rs 297 crore in the same period of the previous fiscal year. The significant increase in profit can be attributed to higher income during the quarter.
- Total Income: The Company’s total income also witnessed growth, reaching Rs 4,369 crore in Q1FY24. This was a rise from Rs 4,146 crore in the corresponding quarter of the previous year, reflecting a growth rate of 7.92%.
- Expenses: While CESC Ltd experienced growth in total income, expenses also increased during the quarter. Expenses amounted to Rs 4,194 crore in Q1FY24, compared to Rs 3,934 crore in the same period last year.
- Revenue Growth: CESC Ltd’s revenue registered a 7.92% increase since the same period last year, reaching ₹4,633 crore in Q1FY24. On a quarterly growth basis, the company generated a substantial 26.97% increase in revenue compared to the previous three months.
- Net Profit Growth: The company’s net profit also showed positive growth, jumping 21.33% since the same period last year, reaching ₹347 crore in Q1FY24. However, on a quarterly basis, CESC Ltd experienced a decline of -19.86% in net profits compared to the previous three months.
- Net Profit Margins: Despite the positive net profit growth, CESC Ltd’s net profit margins experienced a decline of -36.88% on a quarterly basis, reaching 7.49% in Q1FY24. However, on a year-on-year basis, the net profit margin saw growth of 12.42%.
In conclusion, CESC Ltd’s Q1FY24 earnings report reflects strong financial performance, with significant growth in net profit and total income compared to the same period last year. The company’s revenue growth and positive net profit margins contribute to its solid financial standing. However, the decline in net profit margins on a quarterly basis indicates potential fluctuations in profitability over shorter periods. The overall performance underscores CESC Ltd’s role as a vertically integrated power utility engaged in electricity generation, transmission, and distribution.
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