CESC powers Q3 net by 13% to Rs 173 crore

Kolkata: RP Sanjiv Goenka group flagship CESC Ltd Tuesday registered 13 per cent rise in net profit to Rs 173 crore in the Q3 period ended December 2018 despite marginal dip in revenues. The power utility had registered a net profit of Rs 153 crore in the corresponding period of the previous year, the company said in a filing to the stock exchanges.

The revenue from operations was at Rs 1,707 crore during the quarter under review, marginally down from Rs 1,713 crore registered in Q3FY18. The company has announced an interim dividend of Rs 17.5 per share that involve total Rs 280 crore including dividend tax. CESC officials said both Budge Budge and Haldia ranked amongst the top three performing power plant in the country with plant load factor of 92 per cent.

"Operations at Kota, Bikaner and Bharatpur are running successfully. Emerged successful bidder as distribution franchisee for Malegaon in Maharashta and operations expected to start soon," the company said. The CESC scrip was trading at Rs 679.80 at the BSE at 2 pm, down 0.29 per cent.