CESC posts 1.6% jump in net profit in Q4

Partners with US-based Silver Spring Networks to bring part of south Kolkata under smart grid network

Kolkata-based power company CESC posted a marginal rise of 1.6% in its net standalone profit at Rs 248 crore for the quarter ended March 31, 2016.

During January-March of 2016, the company's net income rose by 4.4% to Rs 1,479 crore as against Rs 1,416 crore in the same timeframe of 2015. The net profit after necessary taxes stood at Rs 248 crore as compared to Rs 244 crore in the year-ago period.

In the period under review, its expenses surged by 5.8% from Rs 1,042 crore incurred during the last quarter of 2014-15 to Rs. 1,102 crore in the similar quarter of 2015-16.

 

In a statement, the company said it is partnering with US-based Silver Spring Networks to bring a part of south Kolkata under a smart grid network which will reduce the response time for restoration of supply after an outage. The smart grid infrastructure is designed to help CESC as well as the consumers by enhancing the reliability and quality of supply.