CESC Q2 net profit down 26%

RP-Sanjiv Goenka Group’s power utility CESC Ltd has posted a 26.45 per cent dip in net profit to Rs 114 crore during the second quarter of the current financial year ended September 30, as compared to Rs 155 crore during the same period last fiscal.

Meanwhile, the Kolkata-based company’s net sales for the period under review zoomed 12.2 per cent to Rs 1223 crore during the period under review, against Rs 1090 crore during the second quarter of the financial year 2010-11.

In a statement, the company said, “The delay in obtaining tariff order for the year, coupled with steep inflationary pressure (including fuel) resulted in drop in profit by 26 per cent. In spite of sluggish demand, plant load factor (PLF) for base load stations registered marginal growth during the quarter over corresponding period of the previous year.”