CESC Ltd Reports 6.74% Drop in Q4 Profit Despite Higher Income

CESC Ltd posted a 6.74% decline in consolidated profit to Rs 415 crore for the March quarter, driven by higher income. Despite a rise in total income to Rs 3,460 crore, expenses soared to Rs 3,613 crore. The company's yearly profit improved to Rs 1,447 crore for FY 22-23.

CESC Ltd on Thursday reported a 6.74 per cent fall in its consolidated profit to Rs 415 crore for the March quarter, supported by higher income.

It had clocked a net profit of Rs 445 crore in the year-ago period, the power company said in an exchange filing.

The company's total income rose to Rs 3,460 crore in the quarter under review from Rs 3,208 crore in January-March FY23.

During the period under review, its expenses stood at Rs 3,613 crore, as against Rs 3,099 crore a year ago. For full year, the company's profit rose to Rs 1,447 crore from Rs 1,397 crore in FY 22-23, it said. The board of the company also approved the appointment of Brajesh Singh as Managing Director (Generation) and Vineet Sikka as Managing Director (Distribution) for a period of five years with effect from May 28, 2024. CESC is into generation, transmission, and distribution of electrical power.

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