Calcutta power utility earns Rs.4,000 crore in FY11

April 29th, 2011 - 6:12 pm ICT by IANS  

Kolkata, April 29 (IANS) The gross revenue of power utility Calcutta Electric Supply Corporation (CESC) Limited has crossed Rs.4,000 crore ($9 million) during FY11, its vice-chairman Sanjiv Goenka said Friday.

“CESC’s gross revenue for the first time has crossed the Rs.4,000 crore mark. Profit Before Tax (PBT) for the fourth quarter of the last financial year increased by 17 percent to Rs.142 crore from Rs.121 crore during the corresponding period in the previous year,” Goenka told reporters here.

He said power generation of the company, which produces and supplies power to the city of Kolkata, during the year increased by 12 percent due to commissioning and satisfactory performance of the third unit of Budge Budge thermal plant in South 24-Parganas, which enabled the company to meet seven percent increase in demand.

On the recent hike in coal prices by the Coal India Limited (CIL), Goenka said: “Coal price hike bothers us. It has increased rapidly. Some discussion was needed before increasing the price arbitrarily.”

“We understand their (CIL) compulsions, but there should be a process (for price hike),” he said.

Stating that the coal price hike will lead to about Rs.250 crore cost increase for power generation per year, he said: “Due to the cost hike power tariff will increase.”

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