CESC’s net profit dips 26 percent in Q2

November 9th, 2011 - 6:32 pm ICT by IANS  

Kolkata, Nov 9 (IANS) Power utility CESC Limited, a RP-Sanjiv Goenka Group company, Wednesday reported a 26 percent dip in its net profit at Rs.144 crore in the second quarter ended Sep 30, from Rs.155 crore during the like period last year.

According to a company release here, the Kolkata-based company’s net income, however, increased to Rs.1,241 crore during the period under review from Rs.1,105 crore during the like period last year — a jump of 12 percent.

It said delay in obtaining tariff order for the year coupled with steep inflationary pressure (including fuel) resulted in drop in profit for the quarter.

The company, which engaged in generation and distribution of electricity, said it did not foresee any permanent diminution in the value of its long-term investments (including advance against equity) in the subsidiaries.

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