CESC Q3 net up 36 per cent at Rs 101 crore

CESC Ltd today reported an over 36 per cent jump in the net profit at Rs 101 crore for the third quarter ended December 2012 on year-on-year basis.

The RP Sanjiv Goenka Group-led electricity supply company had posted a net profit of Rs 74 crore in the corresponding quarter in 2011.

"Sales were higher by 5 per cent. Operational efficiency, higher PLF and cost control resulted into profit rise of 36 per cent," CESC vice-chairman, Sanjiv Goenka, told reporters.

He said his group has submitted a proposal of a 600-megawatts (MW) power plant with Uttar Pradesh Power Development Corporation in two phases.

Currently, Noida Power Company Limited (NPCL) another company of RP Sanjiv Goenka group company distributes power in Greater Noida with a demand load of 200-MW.

"We have also signed a long term power purchase agreement with Essar group for 135 MW load at a very competitive rate," Mr Goenka said without divulging further details, including unit price.

Meanwhile, CESC's 300-MW power plants in Maharashtra will be operational in June 2013 and the 300-MW power plant at Haldia will start operation in September 2014.

The company has been trying to increase the renewable energy capacity of 50 MW in wind and 146 MW in hydro-power sector.