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CESC standalone Q2 Net jumps 25.7% to Rs. 171 crore

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CESC standalone Q2 Net jumps 25.7% to Rs. 171 crore
CESC standalone Q2 Net jumps 25.7% to Rs. 171 crore

Power utility CESC Ltd on Tuesday reported a 25.73 per cent jump in second quarter standalone net profit at Rs. 171 crore on the back of higher generation and lower power purchase.

The profit in the corresponding period i.e. July-September last year stood at Rs. 136 crore.

“The sales increase was three per cent in terms of units. Our generation rose by one per cent. Purchase is down. These are the major factors for rise in profits,” CESC chairman Sanjiv Goenka said in Kolkata.

Net revenue from sale of electricity jumped 21 per cent to Rs. 1,611 crore during the quarter ended September 30, 2013 as against Rs. 1,324 crore in the same period last year.

The stand-alone figures do not include the losses from its retail subsidiary Spencer’s Retail Ltd.

The retail business posted loss of around Rs. 12 crore during the quarter as against Rs. 22 crore a year ago.

Shares of CESC closed at Rs. 391.00 apiece, down 0.99 per cent on the BSE.

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