CESC Q4 Net Falls 5% on Low Demand
CESC, the RP-Sanjiv Goenka group’s flagship that supplies electricity to Kolkata, posted a 5% fall in fourth-quarter net profit, hurt by lower demand that pulled revenue down by 17%. The company posted a net profit of .` 243 crore for the JanuaryMarch period, compared with .` 256 crore in the quarter a year earlier. Revenue fell to .` 1,246 crore from .` 1,510 crore. For 201314, it registered .` 652-crore net profit, 6% more than the previous year. Income from operations was .` 5,510 crore, compared with .` 5,303 crore in the previous year. CESC expects a sizeable rise in income as work on its 2x300 MW Haldia project is progressing in full swing and commencement of power flow from it to the city is expected soon.