CESC's consolidated net profit down 11 percent

Kolkata, June 13 (IANS) The net profit of RP-Sanjiv Goenka Group's power utility company CESC Ltd declined by 11 percent in the 2011-12 fiscal compared to the year-ago period, the company said Wednesday.

CESC registered a net profit of Rs.277 crore in 2010-11, which came down to Rs.245 crore in 2011-12, according to the consolidated and audited results declared by the company.

The dip in profit was notwithstanding a 13 percent increase in total income from operations -- from Rs.5,179 crore in 2010-11 to Rs.5,892 crore in 2011-12.

The company's expenses went up by 13.58 percent in 2011-12 to Rs.5,260 crore as against Rs.4,631 crore a year back, mainly due to the rise in fuel cost.

The company said the fuel cost increased during the year due to steep rise in coal and freight cost.

However, the flagship company of the group saw its stand alone net profits going up by 13 percent in 2011-12 to Rs.554 crore. In 2010-11 the figure was Rs.488 crore.

The company said that in 2011-12, its generation increased marginally by only two percent due to sluggish demand.

The company's board has recommended a dividend of Rs.5 per share (50 percent) for the year.