Private sector power utility CESC has registered a five per cent rise in its net profit in 2013-14 which touched Rs. 652 crore even as its fourth quarter profit dropped to Rs. 243 crore in 2013-14 from Rs. 255 crore in the same period in 2012-13.
The flagship company of the RP-Sanjiv Goenka Group clocked an income of Rs. 5,445 crore for the year against Rs. 5,242 crore in the previous financial year.
Consolidated revenues rose to Rs. 10,111 crore from Rs. 7,556 crore on the back of rise in retail and property income as well as major jump in income from process outsourcing.
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Consolidated net profit rose to Rs. 492 crore from Rs. 459 crore.
CESC’s activities include generation and distribution of electricity, organised retailing, property development and business process outsourcing. The last activity is done through FirstSource Solutions, the BPO company, the group acquired last year. The profit on account of BPO activity has risen to Rs. 288 crore from Rs. 82 crore.
CESC, which has marked its footprints outside the state with the Chandrapur project in Maharashtra, said that the first of the 2x300 MW unit was commissioned in February 2014.
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On the renewable energy side, order has been placed for a 26 MW wind power project in Surendrapur in Gujarat with which the total wind power portfolio would be 50 MW.
On the retail business side, Spencer’s registered significant sales growth while rolling out eight new hyper markets.