CESC net rockets 146.67%

BS 200 SCORECARD

RPG flagship and power utility major CESC Ltd said it has reported a 146.67 per cent increase in its first quarter net profit at Rs 37 crore from Rs 15 crore in the corresponding quarter of previous fiscal despite a marginal decline in sales revenue.

The profit improvement has been achieved notwithstanding drop in sales revenue to Rs 636 crore (Rs 640 crore) on account of lower tariff awarded by West Bengal Electricity Regulatory Commission (WBERC) to the company, a CESC spokesman said after board meeting to consider unaudited financial results.

"Sharp improvement in profit resulted from several major cost reduction and efficiency initiatives like 6.5 per cent increase in generation, six per cent reduction in high cost imported power, 14 per cent decline in personnel cost and 17 per cent fall in interest cost," he said.

In addition, T&D loss on quarter to quarter basis was down from above 18 per cent to below 17 per cent, the spokesman said.