CESC Q3 net profit up 25pc to Rs 328cr, co announces record interim dividend

Power utility CESC Ltd onWednesday reported a 25-per cent on-year rise in consolidatednet profit to Rs 328 crore for the December quarter.

The company's bottomline stood at Rs 263 crore in thecorresponding period a year ago, it said in a regulatoryfiling.

Revenue from operations rose during the quarter to Rs2,539 crore against Rs 2,344 crore in the October-Decemberquarter in 2019-20.

The Kolkata-based power utility's fuel and interestcosts lowered during the repoting period, while the cost forelectricity increased.

CESC's standalone profit was marginally higher at Rs182 crore in the quarter to December.

Meanwhile, CESC announced a record interim dividend ofRs 45 per share, entailing a payout of close to Rs 600 crore.

''It is the highest interim dividend in the history ofthe company. In the last fiscal, the utility had declared 200per cent interim dividend,'' a company official said.

The promoters, led by the RP Sanjiv Goenka Group, own49.9 per cent in the company.

It also raised Rs 450 crore through non-convertibledebentures in the December quarter, adding to the Rs 300 crorein July-September.