CESC Ltd achieved a significant milestone on Wednesday with a nearly 14 per cent increase in its consolidated net profit, reaching Rs 363 crore in the September quarter. This success is largely attributed to the company’s higher revenues, marking a substantial improvement from the consolidated net profit of Rs 319 crore in the same period last year.
According to a regulatory filing, the company reported a total income of Rs 4,414 crore in the quarter, up from Rs 3,977 crore in the corresponding period a year ago. This growth reflects CESC’s strong performance and ability to capitalize on increased revenue streams.
In addition to its financial accomplishments, CESC’s board of directors has expressed interest in pursuing substantial investments in the renewable energy generation space. Specifically, the company is exploring opportunities to invest in up to 3 gigawatts of renewable energy through its subsidiaries in multiple states in India. This strategic move aims to expand CESC’s renewable energy footprint and partially fulfill the renewables purchase obligations of its distribution business.
CESC’s foray into renewable energy investments demonstrates its commitment to sustainable energy practices and positions the company for long-term success in the evolving energy landscape. With its ongoing financial growth and strategic investment plans, CESC remains poised for continued advancement and market leadership.