Azure Power (AZRE) Misses Q2 EPS by 4c, Revenues Miss; Maintains FY19 Revenue Guidance Above Consensus

Azure Power (NYSE: AZRE) reported Q2 EPS of ($0.16), $0.04 worse than the analyst estimate of ($0.12). Revenue for the quarter came in at $30.7 million versus the consensus estimate of $33.09 million.

• Operating Megawatts (MW) were 1,018 MW as of September 30, 2018, an increase of 27% over September 30, 2017.
• Operating & Committed Megawatts were 3,059 MW as of September 30, 2018, an increase of 122% over September 30, 2017.
• Revenue for the quarter was INR 2,225.7 million (US$ 30.7 million), an increase of 22% over the quarter ended September 30, 2017.
• Adjusted EBITDA for the quarter was INR 1,807.7 million (US$ 24.9 million), an increase of 21% over the quarter ended September 30, 2017.

GUIDANCE:

Azure Power sees FY2019 revenue of $143-151 million, versus the consensus of $141.08 million.

For earnings history and earnings-related data on Azure Power (AZRE) click here.

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