Power distribution company CESC Ltd on Monday reported a 2.1 percent year-on-year (YoY) increase in net profit at Rs 433 crore for the fourth quarter that ended March 31, 2023.
In the corresponding quarter last year, the company had posted a net profit of Rs 424 crore, CESC said in a regulatory filing.
In the March quarter, the Kolkata-based power utility's total revenue stood at Rs 3,102 crore during the period under review, up 3 percent against Rs 3,011 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA declined 26.3 percent to Rs 513 crore in the fourth quarter of this fiscal, over Rs 696 crore in the corresponding period in the previous fiscal.
The EBITDA margin stood at 16.5 percent in the reporting quarter as compared to 23.1 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
Based on the recommendation of the Nomination and Remuneration Committee, the board has approved the reappointment of Rabi Chowdhury as managing director (Generation) and Debasish Banerjee, as managing director (Distribution) for a period of one year with effect from May 28, 2023.
