CESC Ltd reports strong Q1 2023-24 performance with 24% rise in net profit to Rs 368 crores

Kolkata-based power utility CESC Ltd reported strong financial performance for the June quarter of 2023-24. The company's consolidated net profit witnessed an impressive surge of about 24%, reaching Rs 368 crore, compared to Rs 297 crore in the same period of the previous fiscal year. This significant increase in profit can be attributed to higher income during the quarter.

Total income for the company rose to Rs 4,369 crore, showing growth from Rs 4,146 crore in the corresponding quarter of the previous year. However, expenses also increased to Rs 4,194 crore, compared to Rs 3,934 crore in the same period last year.

CESC Ltd, belonging to the RP-Sanjiv Goenka Group, operates as a vertically integrated power utility engaged in electricity generation, transmission, and distribution.

The positive financial results reflect the company's effective business strategies and robust performance in the power sector.

With inputs from PTI