Mumbai: On a day when the stock markets were tepid, an order passed by the Central Electricity Regulatory Commission (CERC) in favour of GMR Infrastructure, saw the stock gain sevenper cent on Wednesday to Rs 14.27.
CERC has revised the rate of supply from GMR Kamalanga Energy, a special purpose vehicle of GMR Energy, from Rs 2.75 a unit to Rs 3.97 until FY14 with retrospective effect and Rs 3.4 a unit thereafter. This could translate into a gain of Rs 115 crore for FY14, Rs 280 crore for FY15 and Rs 170 crore for the half-year ended FY16.
This hike in tariff could boost the revenues of the company by Rs 560 crore in FY16. At the current plant load factor (PLF) of 68 per cent, revenue from the division. going forward is estimated at Rs 890 crore. Any improvement on this PLF would boost the earnings.
The Kamalanga Energy unit generated 1,444 Mw in the September quarter. Compared to a year before, the generation was up 54 per cent. This, along with 20 per cent higher output from GMR Emco Energy, helped the power operations post a revenue of Rs 1,304 crore, up 22 per cent over a year. Earnings before interest and tax at Rs 65 crore turned positive after 12 quarters.
18/11/15 Hamsini Karthik/Business Standard
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CERC has revised the rate of supply from GMR Kamalanga Energy, a special purpose vehicle of GMR Energy, from Rs 2.75 a unit to Rs 3.97 until FY14 with retrospective effect and Rs 3.4 a unit thereafter. This could translate into a gain of Rs 115 crore for FY14, Rs 280 crore for FY15 and Rs 170 crore for the half-year ended FY16.
This hike in tariff could boost the revenues of the company by Rs 560 crore in FY16. At the current plant load factor (PLF) of 68 per cent, revenue from the division. going forward is estimated at Rs 890 crore. Any improvement on this PLF would boost the earnings.
The Kamalanga Energy unit generated 1,444 Mw in the September quarter. Compared to a year before, the generation was up 54 per cent. This, along with 20 per cent higher output from GMR Emco Energy, helped the power operations post a revenue of Rs 1,304 crore, up 22 per cent over a year. Earnings before interest and tax at Rs 65 crore turned positive after 12 quarters.
18/11/15 Hamsini Karthik/Business Standard
