Financial Daily from THE HINDU group of publications
Tuesday, Aug 03, 2004
Financial Daily from THE HINDU group of publications Tuesday, Aug 03, 2004 |
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Corporate
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New Projects CESC to augment capacity at Budge Budge unit Our Bureau
Kolkata , Aug. 2 CESC Ltd has firmed up plans to augment capacity at its Budge Budge unit by setting up a 2 X 250 MW power plant. At present, the Budge Budge unit of CESC has a 2 X 250 MW plant that is operational and running. The idea behind the initiative is to ensure that CESC does not have to buy power from the West Bengal State Electricity Board. This was stated by Mr Sanjiv Goenka, Vice-Chairman of CESC, while speaking to newspersons at the conclusion of the company's 26th annual general meeting held here. Mr Goenka said the proposed project would be set up in two phases of 250 MW capacity each. The West Bengal Pollution Control Board had given its go ahead for the project while clearances in this regard from the Union Ministry of Environment & Forests were awaited. The proposed project would be funded through a mix of internal accruals, debt and other sources.
During the year 2003-04, CESC recorded a total income of Rs 2,416.48 crore against Rs 2,243.31 crore in the previous year. The profit before special appropriation, adjustments, taxation, exceptional items and contingencies reserve appropriation stood at Rs 92.89 crore in 2003-04 compared with Rs 7.62 crore in 2002-03. The profit during the year under review after contingencies reserve appropriation and other appropriations was Rs 49.73 crore compared with a loss of Rs 5.22 crore in 2002-03. In the first three months ended June 30,2004, CESC registered a total income of Rs 650 crore, a shade lower than Rs 653 crore earned in the corresponding period of last year. The profit before and after tax during the first quarter of fiscal 2004-05 stood at Rs 37 crore against Rs 15 crore during the first three months of 2003-04.
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