CESC Ltd Sees Decline in Q4 Profit Amid Lower Tax Credits
Power utility CESC Ltd reported a 7% decline in consolidated net profit to Rs 385 crore for the March quarter, citing reduced deferred tax credits and regulatory income. Despite this, total income grew to Rs 4,030 crore. The company also initiated the voluntary liquidation of its subsidiary, Au Bon Pain Cafe India Limited.
- Country:
- India
CESC Ltd, the prominent power utility, announced a 7% slump in its consolidated net profit, reaching Rs 385 crore in the March quarter, compared to Rs 415 crore a year ago. The company cited decreased deferred tax credits and regulatory income as primary contributors to the decline.
Despite the dip in profits, CESC Ltd's total income saw an uptick, rising to Rs 4,030 crore from Rs 3,460 crore during the same period last year. The regulatory income dropped significantly to Rs 140 crore, down from Rs 572 crore in fiscal year 2024, while deferred tax credits fell to Rs 16 crore from the previous year's Rs 37 crore.
Additionally, the Board approved the voluntary liquidation process of its subsidiary, Au Bon Pain Cafe India Limited, noting that this would not impact CESC Ltd's business, as the group remains focused on electricity generation and distribution.
(With inputs from agencies.)
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