CESC's net profit zooms 36.5 percent
Kolkata, Feb 12 : Power utility CESC Ltd., an RP-Sanjiv Goenka Group company, Tuesday announced a 36.49 percent hike in its net profit for the quarter ended Dec 31, 2012, to Rs.101 crore.
Net profit for the city-based company was Rs.74 crore for the same period the previous year.
Profit before tax stood at Rs. 127 crore for the period under review compared to Rs.92 crore for the same period a year ago.
Total income for the third quarter this fiscal has increased from Rs.1,003 crore to Rs.1,064 crore for the same period a year ago.
Announcing the results, CESC Ltd vice-president Sanjiv Goenka said the company's net profit zoomed on account of improved efficiency and higher average realisation per unit.
"Improved efficiency led to the lower cost. Fuel cost per unit generated during the quarter could be contained at the same level due to efficient coal management," he said.
"Average realisation for the firm during the period has also increased to Rs.6.50 per unit," Goenka said.
Units sold during the quarter under review were marginally higher by around 1.30 percent compared to corresponding quarter of previous year.
The company has submitted a proposal to the Uttar Pradesh government for setting up a 600-MW thermal power project.
"We have identified two-three possible locations for the project," Goenka informed.
He said CESC was exploring growth opportunities in all segments of power business and combination of organic and inorganic options were being explored by it to augment hydro power capacity.
The company has commissioned 14 MW wind power capacity in Rajasthan's Jaisalmer. Another 10 MW will be added by March this year.
The power utility's first unit of 300x2 MW thermal project in Maharashtra will be commissioned in June, 2013. Its second unit is expected to be commissioned in October.