Rs 4.50/Share Dividend: Power Co Declares 10% Dip In Net, Shares Rally 92% In 6-Months

Mid cap company operating in power sector, CESC Ltd today declared a decline of 10% in its net profit to Rs 301 crore for the quarter ended December due to increased expenses. Last trading price of CESC Ltd shares on BSE is Rs 143.65 per share with intraday gain of 1.48%. CESC shares hit fresh 52-week high in trade today despite reporting decline in net profit. CESC Ltd shares witnessed a surge of 92% in last 6-months. Check details below:

CESC Ltd Stock Performance & Return: The 52-week high price of CESC Ltd shares on BSE is Rs 145.50 per share and 52-week low price is Rs 62.25 per share, respectively. The company has a market capitalisation of Rs 19,041.82 crore. CESC shares surged 59% in last 3-months, gained 56% in last 2-years, rose 104% in last 3-years, and offered shareholders return of 108% in last 5-years.

CESC Ltd Q3 Results: Its consolidated net profit was reported at Rs 336 crore for the corresponding quarter of last year, as per the BSE filing. Its total expenses soared to Rs 3,497 crore for the quarter under consideration from Rs 3,141 crore in the year ago period. The company stated its total income soared to Rs 3301 crore for December quarter as compared to Rs 3,224 crore an year ago.

The company also approved the appointment of Mr. Arjun Kumar, as a Non-executive Director in the category of an Independent Director of the Company, for a term of five (5) years with effect from January 19, 2024. Arjun Kumar is not related to any Director of the Company and satisfies the criteria of independence as prescribed under the Companies Act, 2013 and SEBI LODR.

CESC Ltd About: We are the sole distributor of electricity within an area of 567sq km of Kolkata, Howrah and adjoining areas and serve 3.4 million consumers which include domestic, industrial, and commercial users. We own & operate two thermal power plants in our licensed area generating 885 MW of power, according to the company's website.

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