CESC Q2 net marginally up at Rs 195 cr

Power utility CESC Ltd today reported a net profit of Rs 195 crore for the quarter ended September 30, up 1.56 per cent from Rs 192 crore in the corresponding period a year ago.
Net sales during the quarter stood at Rs 1,757 crore, up 6.68 per cent from Rs 1,647 crore a year ago.
"The profit during the quarter (Jul-Sep) was flat mainly because the tariff was unchanged. The demand for power was also flat in the period. Only from the month of September, we are witnessing some pick up as power demand was up by 4.4 per cent," CESC Chairman Sanjiv Goenka said.

The average peak load factor during July-September was flat 92 per cent, while the plant availability factor was up to 99.5 per cent in the same period, Goenka said.
During the quarter under review, CESC's fuel cost was down by 20.04 per cent year-on-year to Rs 423 crore, whereas total expenses went up by 6.99 per cent to Rs 1,424 crore.
Regarding CESC's retail arm Spencer's, Goenka said the company was doing well and was expected to break even in the December quarter.
"Performance of Spencer's is improving every quarter. The monthly average same-store sales crossed Rs 1,550 per sq ft during the quarter. We expect the company to break even in the October-December quarter," Goenka said.

In the first quarter, Spencer's reported an average monthly revenue of Rs 1,477 per sq ft.