CESC sees 11 percent rise in profit before tax

February 10th, 2011 - 6:23 pm ICT by IANS  

Kolkata, Feb 10 (IANS) RPG group company CESC Thursday reported an 11 percent rise in its profit before tax (PBT) to Rs.137 crore for the quarter ended December 2010. This is up from Rs.123 crore in the corresponding period of the previous year. RPG group vice-chairman Sanjiv Goenka told journalists here that the company, a power utility, registered an eight percent rise in profit after tax (PAT) due to higher tax rate compared to the corresponding quarter of the previous year.

Stating that the company’s total capacity was now 1,225 MW, he said power generation had increased by 15 percent due to commissioning of the third unit of the Budge Budge plant near the city.

Goenka said talks were on with eight private equity firms regarding the uploading of 20 percent equity of Haldia Energy Limited, a subsidiary of CESC Ltd.

Twenty percent equity stood for Rs.1.2 crore equity shares per MW.

Related Stories

Tags: , , , , , , , , , , , , , , , ,

Posted in Business |