CESC (CESC) Q4 23/24 earnings summary

Executive summary

• Consolidated revenue grew 6.8% year-over-year to ₹15,544 crore, with PAT up 3.6% to ₹1,447 crore.

• Standalone revenue rose 7.1% to ₹8,729 crore, but PAT declined 6.7% to ₹775 crore due to higher expenses.

• Strong operational performance in Kolkata and distribution ventures, with improved demand and reduced losses.

• Major investments and expansion in renewables, including a planned 3 GW hybrid renewable portfolio.

Financial highlights

• Consolidated total income: ₹15,544 crore (up 6.8% YoY); standalone: ₹8,729 crore (up 7.1% YoY).

• Consolidated PAT: ₹1,447 crore (up 3.6% YoY); standalone PAT: ₹775 crore (down from ₹830 crore YoY).

• EBITDA and operating margins impacted by an 18% rise in standalone expenses and 10.8% rise in consolidated expenses.

• Interim dividend of ₹4.50 per share paid.

Outlook and guidance

• Management expects continued strong demand for electricity, supported by India's robust GDP growth forecast of 7% for FY25.

• Significant investments planned in renewables and digital transformation to drive future growth.

• Focus on operational efficiency, loss reduction, and customer service improvements.