CESC’s standalone net profit falls 19%

Our Bureau Kolkata | Updated on June 29, 2020

CESC Ltd, the flagship company of the RP-Sanjiv Goenka group, has reported a 19 per cent YoY drop in standalone net profit at ₹250 crore for the quarter ended March 31, 2020. Net profit in the corresponding quarter last fiscal stood at ₹309 crore. The stand-alone net profit is lower on account of higher costs.

The decline in net profit can be attributed to the 5 per cent year-on-year decline in revenue from operations at ₹1,583 crore. Sales in the year-ago period was ₹1,662 crore.

For FY20, the company saw a 2 per cent YoY decline in standalone net profit at ₹918 crore (₹937 crore), while sales rose marginally to ₹7,836 crore (₹7,754 crore).

On a consolidated basis, the company witnessed a 6 per cent YoY rise in Q4 net profit at ₹446 crore backed primarily by an increase in sales and lower tax expenses. Net profit in Q4 FY19 stood at ₹419 crore.

Consolidated revenue from operations rose to ₹2,433 crore in the period under review, up 6 per cent from ₹2,308 crore in the same quarter last year. Tax expense during the quarter came down to ₹36 crore, a 70 per cent dip compared with the corresponding quarter last fiscal.

In FY20, its consolidated net profit stood at ₹1,306 crore and revenue from operations ₹11,014 crore.

On the lockdown, the company said it is closely monitoring developments, operations, liquidity and capital resources and is actively working to minimise the impact of the unprecedented situation.

Published on June 29, 2020

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