Power major CESC Ltd today reported a net profit of Rs 152 crore for the first quarter of the 2015-16 fiscal, almost level with last corresponding period's profit of Rs 151 crore.
"This year the profit was flat due to non-revision of tariff for the year. There is nine per cent growth if compared apple to apple (both years without tariff hike)," CESC chairman Sanjiv Goenka said here today.
Sales for the quarter was valued at Rs 1,689 crore as against Rs 1,848 crore registered in the year-ago period.
Goenka said the company would continue to focus on cost control.
He said Budge Budge plant was generating in full stream and the benefit of the same could be felt in the subsequent quarters.
CESC will gradually reduce power purchase from state utility replacing by own group generating plants in phases.
