CESC Ltd, the flagship company of the RP-Sanjiv Goenka Group, will make operational the 300 MW first phase of its Rs 3,300-crore Chandrapur (Maharashtra) project next month. The second phase, with another 300 MW capcity, will be operational by April next year.
The company has inked a pact with Tamil Nadu Generation and Distribution Corporation (100 MW). “Discussions are in an advanced stage with two private utilities. But I cannot reveal details,” said CESC Chairman Sanjiv Goenka.
He further said Spencer’s, the group’s fully-owned retail business, has pared losses and reported increased earnings. It reported a nearly 5 per cent increase in monthly sales per sq ft to Rs 1,363 during the September quarter, against Rs 1,300 in the previous-year period.
CESC reported a nearly 26 per cent jump in net profit to Rs 171 crore for the quarter ending September 2013. It had reported a net profit of Rs 136 crore in the corresponding quarter last fiscal.
A 3 per cent sales rise and a 3 per cent reduction in power purchase from the West Bengal State Electricity Board contributed to an improvement in its top-line.
Net sales stood at Rs 1,611 crore, up nearly 22 per cent.
“Plant load factor (utilisation of own capacities) increased by 1 per cent, which also improved profits,” Goenka said.
PLF at CESC’s three plants in West Bengal stood between 97.1 and 99 per cent. CESC shares closed at Rs 391.45, down 0.87 per cent, on the BSE on Tuesday.
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