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CESC sizzles after Q3 PAT rises 24% YoY

Capital Market 

CESC gained 1.1% to Rs 669.15 after the power utility's consolidated net profit grew by 24.7% to Rs 328 crore on an 8.3% rise in revenue from operations to Rs 2539 crore in Q3 December 2020 over Q3 December 2019.

The company's profit before tax stood at Rs 434 crore in Q3 December 2020, a 21.2% rise over Rs 358 crore in Q3 December 2019. Total tax expense spiked 11.5% to Rs 106 crore in Q3 December 2020 over Q3 December 2019.

Meanwhile, the company has announced an interim dividend of Rs 45 per equity share. The record date is on 25 January 2021.

Shares of CESC have risen 7.58% in five trading days from its previous closing low of Rs 622 on 6 January 2021.

CESC is a fully-integrated electrical utility company. The company's other business segments include power, organized retailing, property development and business process outsourcing.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, January 13 2021. 14:27 IST