cesc q3fy24 Results: CESC Q3 Results: Net profit declined 10% to Rs 301 cr. Dividend declared at Rs 4.5/share

New Delhi: Power utility CESC Ltd’s consolidated net profit fell over 10 per cent to Rs 301 crore in the December quarter, mainly due to higher costs. Its consolidated net profit was Rs 336 crore for the quarter ended December 2022, according to a BSE filing.

Total expenses for the quarter under review increased to Rs 3,497 crore from Rs 3,141 crore in the year-ago quarter. The company’s total revenue rose to Rs 3,301 crore in the current quarter compared to Rs 3,224 crore a year ago.

The Board of Directors has declared an interim dividend of Rs 4.50 per share (i.e. 450%) on the paid-up capital of the Company.

The reference date for confirming the eligibility of members to receive the corresponding interim dividend is February 1, 2024.

The Board of Directors at its meeting on Friday also approved the appointment of Arjun Kumar as Non-Executive Director in the category of Independent Directors of the Company for a term of five years from January 19, 2024.

Kumar is not related to the company’s directors and meets the criteria for independence.

The company also confirmed that Kumar was not barred from holding the position of director by any Sebi order or any other statutory authority.