CESC Ltd net profit to plunge yoy

CESC Ltd, one of the leading electric utilities companies in the country, will announce its financial results for the fourth quarter ended March 31, 2016 on on May 19.

The company’s net profit to be at Rs.136 crore, which constitutes a rise of 21.4% qoq but a drop of 44.3% yoy.

The company is expected to register a net revenue of Rs.1,375 crore, falling at 10.6% qoq and 2.9% on yoy basis.

Operating profit margin of the company is likely to be at 25.0%, a growth of 562 bps qoq, while a drop of 671 bps yoy.

BUY CESC LTD ABOVE 555 TG 559, 563, 569 SL 549,

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Capital grow Closing Update, Stock Trading tips free

The market has ended with gains driving on a late buying. The Sensex is up 83.67 points or 0.3 percent at 25772.53 and the Nifty is up 21.75 points or 0.3 percent at 7887.80.

Dr Reddy's Labs, L&T, Axis Bank, HUL and GAIL are top gainers while Tata Motors, Hindalco, ONGC, NTPC and Adani Ports are losers in the Sensex.

Result: State-run Punjab & Sind Bank reported a profit of Rs 98.12 crore for the March quarter despite increase in bad loans.

The bank had posted a loss of Rs 70.24 crore during the corresponding quarter of the previous fiscal. Total income during the quarter rose to Rs 2,302.27 crore as against Rs 2,234.90 crore in the year-ago period.

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