Kolkata: CESC Ltd on Tuesday reported an over 36% jump in net profit at Rs101 crore for the third quarter ended December 2012.
The RP Sanjiv Goenka group-led electricity supply company had posted a net profit of Rs74 crore. “Sales were higher by 5%. Operational efficiency, higher prime load factor (PLF) and cost control resulted into profit rise of 36%,” CESC vice-chairman Sanjiv Goenka told reporters.
Goenka said his group has submitted a proposal of a 600MW power plant in Uttar Pradesh. “We have submitted a proposal for a 600MW with Uttar Pradesh Power Development Corporation in two phases,” Goenka said.
Currently, Noida Power Company Ltd (NPCL) another company of RP Sanjiv Goenka group distributes power in Greater Noida with a demand load of 200MW. He said NPCL will come out of red with increase in power tariff.
“We have also signed a long term power purchase agreement (PPA) with Essar group for 135MW load at a very competitive rate,” Goenka said without divulging further details, including unit price.
Meanwhile, CESC’s 300MW power plants in Maharashtra will be operational in June 2013 and the 300MW power plant at Haldia will start operation in September 2014. The company has been trying to increase renewable energy capacity of 50MW in wind and 146MW in hydro-power sector.