Power utilities may report moderate growth in earnings for 3QFY25. Generation is up 3 percent Y-o-Y in Q3 on lower cooling demand and high base, to 429 billion units (BU).
Peak demand was steady at 224GW in Q3FY25, a 10 per cent decline from the record highs of 250GW in May 2024. Coal-based generation held steady at 319BU, hydro generation surged by 27 per cent to 34BU. Gas-based generation fell by 20 per cent Y-o-Y to 5.4BU. Renewable generation rose 14 per cent Y-o-Y to 47BU. Year-to-date, generation has increased 5 per cent Y-o-Y to 1,387BU.
Global coal