CESC July-Sept net up 33% on volume growth

CESC July-Sept net up 33% on volume growth

Kolkata: Private sector power utility CESC Ltd posted 33.3% rise in July-September net profit on higher volumes, it said in a statement.

Net profit for the quarter rose to Rs1.24 billion, up from Rs930 million in the same period a year ago, while sales rose to Rs7.55 billion from Rs7.51 billion.

Volume growth of 3.8% was a significant contributor to rise in profits, the company said in a statement.

During the quarter, the company was allowed to charge an average tariff of Rs3.91 for a unit of power in FY09, up from Rs3.86 a unit a year ago.

However, higher fuel and power import costs to meet rising sales was a concern, it said.

CESC supplies electricity to 2.2 million subscribers in the eastern Indian city of Kolkata, and has a generating capacity of 1,000 megawatts.

In FY08, the company sold 6,948 million units of power and revenue from sale of electricity and other income stood at Rs29.30 billion.

CESC shares ended 1.61% down at Rs176.90 in the Mumbai market on Wednesday.