CESC sees best day in nearly 2 months after Q1 profit jump

Reuters August 16 | Updated on August 16, 2019 Published on August 16, 2019

Shares of CESC Ltd rose as much as 6.3 per cent to Rs 811.95, their biggest daily percentage gain since May 20.

The electric utility company on Wednesday reported an 18 per cent spike in June-quarter profit to Rs 217 crore ($30.44 million) against Rs 184 crore. Revenue rose 9 per cent to Rs 2,359 crore.

The Q1 profit has beaten Refinitiv estimates of Rs 206 crore.

Up to last close, CESC has gained 14 per cent this year, while peer JSW Energy, which posted a 6.5 per cent jump in Q1 profit on August 6, is down 2 per cent ($1 = 71.2850 rupees).

Published on August 16, 2019
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.