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Tata Power: OPM gains…

Jul 22, 2003

Tata Power has reported a 4% topline growth during the June quarter. Continuing with cost efficiencies, operating margins expanded by 270 basis points, resulting in a 19% bottomline growth.

Power: The past and the potential

Jun 25, 2003

Power is a critical infrastructure for the growth of Indian economy. Since demand is higher than supply at the current juncture, expansion in power generation capacity is necessary to ensure rapid economic growth and the overall success of the liberalisation efforts.

Tata Power: Margin strength…

May 28, 2003

Tata Power Limited has reported strong numbers for the March quarter. We have not received the company's release on the results as yet, and the YoY comparision is solely based on last year's stated figures. The company's income from operations is up nearly 9%. But owing to cost efficiencies, operating profits were up a healthy 39% during the quarter.However, profit comparision and operating profit margin comparision depicted below is largely correct.

BSES: Tearful FY03

Apr 21, 2003

BSES, one of India's leading private utilities, has had a somewhat lacklustre FY03. The company finished the year with over 3% growth is sale of electrical energy. This is much lower than its past average of over 4% growth in the last 4-5 years. However, a 25% dip in its other income, as well as over 15% increase in both interest burden and depreciation provisioning has resulted in over 42% fall in the company's FY03 net profits.

Power: FY03 and beyond

Apr 2, 2003

As per the Economic Survey 2002-03, the installed capacity of power generation in the country stood at 106,812 MW by December 2002. India added 1,819 MW capacity between April – December 2002. Power generation in April-December, 2002 stood at 397.6 bn KWh (up 3.7% over the corresponding period in 2001). The growth in generation was largely led by Thermal generation, which grew by 6.3%.

Power: Light ahoy?

Feb 27, 2003

As per the Economic Survey 2002-03, the installed capacity of power generation in the country stood at 106,812 MW by December 2002. India added 1,819 MW capacity between April – December 2002. Thermal plants continue to account for a major chunk of India’s generation statistics at 82% of total generation. Hydro electricity plants contribute 14% and nuclear plants account for the rest.

Tata Power: MSEB electrifies performance

Jan 23, 2003

Tata Power, India's largest private sector utility, has reported significant 23% growth in topline during December quarter. The spurt in the topline seems largely a result of increased sales to MSEB during the quarter. Tata Power sold 400 MUs to MSEB during the December quarter, up 194% YoY. This spurt in demand may have been owing to the plant shutdown of the beleaguered Dabhol Power Company. Also, the company's second phase of Wadi power plant (37.5 MW) became operational in 2QFY03 and this co

T&D: Power policy's new mantra

Jan 18, 2003

Last year, while formulating a new power policy, the government made one very important announcement. It noted that from now on, transmission and distribution (T&D) would be the focus of planned development. Hitherto, power generation was the key focus of the government policy. But why this shift?

BSES: EPC volatility hits performance

Oct 28, 2002

BSES, one of India's leading private utilities, has declared a 4% growth in sale of electricity in 2QFY03 (1588 MUs). In value terms, revenues from sales of electricity has gone up by over 10% YoY during the quarter. The company's income from engineering contracts and computer division have taken a hit this quarter (down 42%). This has resulted in a marginal 1% growth in the company's operating income.

Tata Power: Operationally strong but…

Oct 22, 2002

Tata Power, India's largest private sector utility, has reported a 9% growth in topline during September quarter. However, a sharp dip in other income (down 43% YoY) and a significant extraordinary income in September quarter last year has meant a huge 45% dip in 2QFY03 bottomline.

Power: A step forward…

Oct 17, 2002

Yesterday, the Punjab government withdrew free power to farmers. The move is unprecedented and marks a positive change for the pace of power sector reforms in India. Traditionally, politicians have pampered the agriculture fraternity, eyeing them as a vote bank. So not only is agriculture income taxed less (or not taxed at all), the services provided to them like power are often free.

BSES: Other income blues…

Jul 30, 2002

BSES Limited, one of the foremost private players in the power sector, has logged in a 7% growth in its core business of selling electricity during 1QFY03. However, a staid growth in income from EPC, contracts and comptuer division resulted in a just over 6% growth in operational income. Lower other income was largely responsible for nearly 5% dip in bottomline during the quarter.

Tata Power: Strong operational performance

Jul 25, 2002

Tata Power has recorded a 3% dip in 1QFY03 net profit despite reporting a healthy 12% growth in topline. This was largely as a result of the extraordinary income which Tata Power had earned in June quarter last year. The company had earned profit from sale of its shares in Tata BP Lubricants Limited and had also sold US 64 units, which meant an extraordinary income of Rs 222 m in 1QFY02. Excluding this, net profit is up 30% YoY.

BSES: Trips in 4QFY02

Jun 28, 2002

BSES Limited, one of India's premier private utilities, has recorded a slight dip in FY02 operational income. Poor fourth quarter, which saw turnover slide by over 8%, was largely responsible for this. The company finished the quarter with a significant 67% dip in net profit.

Tata Power: Generation strength

May 31, 2002

Tata Power Company has declared an encouraging 12% growth in topline in FY02. A resurgent 18% growth in 4QFY02 topline has helped the company achieve this. Its bottomline surged 30% during the year aided by significant extraordinary income.

Power: Search for light…

May 18, 2002

As per the economic survey of 2001-02, India’s power generating capacity stood at 102,907 MW (mega watts) in October 2001. Out of this, it approximately managed to generate only 58,676 MW (or 57%) of electricity during FY02. What’s more, the pace of growth in electricity generation seems to have slowed down in FY02. Last year India generated nearly 499.6 bn kWh of electricity (up 3.9% YoY). Power generation during April-December, 2001 stood at 383.2 bn KWh (up 2.8% over the corresponding period

Tata Power: Telecom woes

May 18, 2002

One of India’s largest private sector power producers, Tata Power, is slowly changing the sphere of its activities. Since FY01, the company has continued to be in the thick of things. First came merging of the three power companies as one, then the chairman, Mr. Ratan Tata’s statement that Tata Power would be the group’s vehicle for its communication foray. The proposed LNG foray, buying out Tata Petrodyne and taking over the transmission business of Tata International followed later. Not to men

Power: Depoliticise please!

Apr 6, 2002

Since deregulation in the early 1990s, India as an investment destination has come a long way. Though progress, unfortunately, has been on the slower side, one has to keep in mind the political aspect of managing an economy. Nevertheless, the standard of living in the country for a common man has not improved amidst all these macro-developments. Agreed that poverty rates have fallen, death rates have come down and literacy is gradually improving, but basic needs of a citizen are yet to addressed

BSES: Long term story

Jan 29, 2002

BSES Limited, one of India's premier private utilities, has recorded a 3% growth in operational income during 3QFY02. A marginal dip in operating expenses saw margins improve and BSES finally finished with a 13% profit growth during the quarter.

Tata Power: Other income saves day

Jan 24, 2002

Tata Power Company has declared lacklustre results in the December quarter (3QFY02). Its topline has shown a YoY growth of 5% during the quarter, as compared to an 18% jump in topline during the September quarter. Its bottomline growth during 3QFY02 is 6%.


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