CESC (CESC) Q1 24/25 earnings summary

Executive summary

• Unaudited standalone and consolidated financial results for Q1 FY2024-25 were approved, showing both revenue and profit growth year-over-year.

• Appointment of Mr. Paras Kumar Chowdhary as Non-Executive Independent Director and re-appointment of Mr. Sunil Mitra for another three-year term, both subject to member approval.

Financial highlights

• Standalone revenue from operations for Q1 FY25 was ₹2,860 crore, up from ₹2,525 crore in Q1 FY24; consolidated revenue was ₹4,863 crore, up from ₹4,310 crore year-over-year.

• Standalone net profit for Q1 FY25 was ₹192 crore, up from ₹170 crore in Q1 FY24; consolidated net profit was ₹388 crore, up from ₹368 crore year-over-year.

• Standalone EPS for Q1 FY25 was ₹1.45 (not annualised); consolidated EPS was ₹2.85.

• Regulatory income (net) contributed significantly to profit before tax: ₹561 crore standalone and ₹689 crore consolidated in Q1 FY25.

Outlook and guidance

• Revenue recognition and regulatory income are subject to further adjustments pending regulatory orders and appeals, particularly regarding fuel cost adjustments and tariff orders.

• Management expects further clarity on regulatory matters, including coal mining and tariff appeals, which may impact future results.