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CESC Ltd reported a 13.5 per cent increase in standalone profit after tax at Rs 554 crore in 2011-12 against Rs 488 crore in the previous year. The company's board on Wednesday proposed a dividend of Rs 5 or 50 per cent for the year. The 34th AGM has been scheduled on July 27.
The consolidated financial results, however, showed a drop in net profit to Rs 246 crore in FY12 from Rs 278 crore. Other than power generation and distribution, CESC has interests in retail and realty through its arms. The realty business recorded a reduced loss (before interest and tax) at Rs 220 crore in 2011-12 against Rs 253 crore in 2010-11.
CESC's standalone net sales grew over 12 per cent to Rs 4,605 crore (Rs 4,094 crore). A company note said power generation during the year moved marginally up by two per cent owing to sluggish demand. In March this year, the West Bengal State Electricity Regulatory Commission had allowed CESC to hike power tariff in city by over 13 per cent or 69 paise a unit for 2011-12. The arrears of around Rs 550 crore are to be collected over next to years.
The CESC stock finished the session up 0.45 per cent at Rs 281.55.
>jayanta_mallick@thehindu.co.in
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