• Consolidated operational income grew by 26% to Rs 1731.51 crore with 43% jump in power generation for the quarter excluding the generation from Sasan UMPP. Though the generation of Rosa TPP stayed marginally lower by 2%, the incremental generation from Butibori TPS facilitated strong upside in generation. Butibori TPS generated 974 million units for the quarter against nil in the corresponding previous period. The Sasan UMPP output was up by 533% to 5106 million units.

• Marginal 10 bps contraction in operating profit margin (to 36.3%) was largely on account of higher fuel cost and cost of operation. The cost of fuel as proportion to sales was up by 100 bps to 59.8%. Similarly the cost of operation was up by 40 bps to 1.8%. While the employee cost was down by 70 bps to 0.7%, the other expenses were lower by 50 bps to 1.5%.

• Other income was down by 14% to Rs 95.06 crore. The interest cost was higher by 50% to Rs 269.62 crore and depreciation was up by 33% to Rs 138.31 crore. Thus the growth at PBT was lower by 4% to Rs 315.03 crore.

• The taxation for the quarter was flat at Rs 60.59 crore but the tax rate was higher at 19.2% compared to 18.4% in the corresponding previous period. Thus the net profit eventually stood lower by 5% to Rs 254.44 crore.

Nine month performance

Sales were higher by 38% to Rs 5267.82 crore. But with 90 bps contraction in OPM to 35.3%, the growth at operating profit moderated to 35% to Rs 1859.77 crore. But hurt by higher interest, depreciation and taxation, the net profit was eventually lower by 1% to Rs 751.86 crore.

Other developments

The entire 3960 MW of Sasan UMPP has now become operational with synchronization of Unit 6 during this month.

The stock hovers around Rs 60.00.