CESC witnessed a nearly 3 percent drop in its shares at the opening bell on January 20, following the power utility company’s announcement of a 10 percent decline in consolidated net profit for the December quarter. At 9:30 am, the stock was trading at Rs 139.15 on the National Stock Exchange.
CESC Ltd reported a 10 percent year-on-year decrease in consolidated net profit, amounting to Rs 301 crore, attributed to higher expenses. Despite the profit dip, total income saw an increase to Rs 3,301 crore from Rs 3,224 crore in the corresponding quarter of the previous year.
In addition to the financial update, the company’s Board declared an interim dividend of Rs 4.50 per equity share. The record date to determine eligibility for receiving the interim dividend is set for February 1, as per the filing.
