CESC net profit up by 41% at Rs 86 Cr in fourth quarter

Kolkata, Apr 28(UNI) Driven by lower interest costs and transmission losses, the net profit of power utility CESC has jumped by 41 per cent at Rs 86 crore in the fourth quarter ending in March from Rs 61 crore during the corresponding period last year.

Net sales of the company shot up by 18.46 per cent to 600.8 crore as interest costs fell by 13.88 per cent to Rs 31 crore.

For the year ended March 2008, the company recorded a net profit of Rs 354 crore as compared to Rs 301 crore during previous year.

Total revenue has increased to Rs 2,898 crore from Rs 2,577 crore during 2007.

Vice-Chairman Sanjeev Goenka said the company's transmission and distribution losses fell to 13.9 per cent from 14.7 per cent.

'' Our efforts to improve efficiency has fuelled growth in profits,'' he said.

Mr Goenka said the company had also achieved higher plant load factor (PLF) which was at 97.6 per cent.

In reply to a question, he said CESC had plans to augment generating capacity to 5,000 MW in the next two to three years with the setting up of new units in Jharkhand, Orissa and West Bengal.

UNI KDG KK RN1954