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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.
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