According to reports, RP-Sanjiv Goenka Group chairman, Sanjiv Goenka said, CESC’s net profit for the fourth quarter last fiscal had almost been unchanged compared to same period of the previous fiscal on the back of low demand for power from customers.
“This was the worst quarter we had in the entire financial year,” Goenka told reporters here after announcing the results.
Net sales for the quarter under review stood at Rs.1,492 crore as against Rs.1,360 crore for the like period in the previous fiscal, registering a 9.7 percent year-on-year growth.
Coal prices have been doubled over the last year. Thus, huge pressure from coal prices is a challenge,” Goenka said.
He said the firm’s 40 MW wind power project at Jaisalmer in Rajasthan has started operation.
Informing media persons that the company was aiming to set up a wind power unit in Gujarat, he said, “We are currently examining different sites.”