Azure Power (AZRE) Tops Q4 EPS by 4c; Offers FY20 Revenue Outlook

June 10, 2019 5:25 PM EDT
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Price: $23.72 -0.25%

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Azure Power (NYSE: AZRE) reported Q4 EPS of $0.08, $0.04 better than the analyst estimate of $0.04. Revenue for the quarter came in at $41.17 million versus the consensus estimate of $41.43 million.

  • Net profit of INR 241.0 million (US$ 3.5 million) and INR 138.5 million (US$ 2.0 million) for the quarter and year ended March, 31, 2019, respectively.
  • Operating Megawatts (MW) were 1,441 MWs as of March 31, 2019, an increase of 58% over March 31, 2018.
  • Operating & Committed Megawatts were 3,356 MWs as of March 31, 2019, an increase of 79% over March 31, 2018.
  • Revenue for the quarter was INR 2,847.2 million (US$ 41.1 million), an increase of 26% over the quarter ended March 31, 2018.
  • Adjusted EBITDA for the quarter was INR 2,142.5 million (US$ 31.0 million), an increase of 32% over the quarter ended March 31, 2018.

GUIDANCE:

Azure Power sees FY2020 revenue of $185-193 million, versus the consensus of $190.53 million.

The following statements are based on current expectations. These statements are forward-looking and actual results may differ materially. With a robust pipeline and strong execution capabilities, we expect to continue to deliver high growth in fiscal year ended March 31, 2020. For fiscal year ending March 31, 2020, the Company continues to expect to have between 1,800 – 1,900 MWs operational. In addition, the Company is reiterating its guidance of revenues between INR 12,770 – 13,350 million (US$ 185– 193 million at the March 31, 2019 exchange rate of INR 69.16 to US$ 1.00) for fiscal year ending March 31, 2020.

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



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