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CESC net at Rs 23 cr

Calcutta, Oct. 31: CESC has posted a net profit of Rs 23 crore in the second quarter ended September 30 against a net loss of Rs 12 crore in the year-ago period.

The net profit of the company in the first half of the current financial year is Rs 38 crore against a loss of Rs 35 crore in the corresponding period of the previous year.

The company attributes this turnaround in performance to an improvement in operating efficiency. The net tariff has increased 3 per cent only.

The net sales of the company in the second quarter is Rs 659 crore compared with Rs 594 crore in the year-ago period, registering a growth of 10.94 per cent.

The company said high cost power import in the first half is down 28 per cent from the imports last year.

This helped contain the power purchase cost, notwithstanding the 20 per cent increase in the import pie.

Interest burden is down by about 7 per cent and further reduction is expected once the debt restructuring is concluded in the current financial year.

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