1st Quarter Results

RNS Number:4579B
CESC Ld
30 July 2004

To: RNS 
Dated: July 30, 2004


We enclose for your record a copy of the Unaudited Financial Results
(Provisional) of the Company for the quarter ended 30 June, 2004
which have this day been taken on record in accordance with the
Listing Agreement entered into with your Exchange. 

From:  CESC Limited


        Unaudited Financial Results (Provisional) for the three months 
                              ended 30 June, 2004


                                       Three months    Three months       Year  
                                           ended          ended          ended
                                         30.6.2004      30.6.2003     31.03.2004
                                        (Unaudited)    (Unaudited)     (Audited)
                                            (1)            (2)            (3)             
                                                        Rs. Crores                                        
                        
  1 Net Sales                               636           640           2348    

  2 Other Income                             14            13             68    

    TOTAL                                   650           653           2416    


  3 Total Expenditure:                                             

      (a) Fuel Cost                         190           178            664    
      (b) Personnel Cost                     54            63            242    
      (c) Power Purchase                     97           103            291    
      (d) Others                            112           108            482    


  4 Interest                                 85           104            348    


  5  Profit before Depreciation             112            97            389    


  6  Depreciation                            75            82            296    
 

  7  Profit before tax                       37            15             93    
 

  8  Provision for Taxation                   0             0              7    


  9 Net Profit                               37            15             86    


 10 Paid-up Equity Share Capital             67            58             67    
    (Shares of Rs. 10 each)


 11 Net Reserves (excluding Revaluation
    Reserve of Rs. 300 Crores) as per
    latest audited Balance Sheet as on 
    31 March 2004                                                       1009


 12 EPS (Rs.)
    - Basic & Diluted                      5.60         2.60            11.18      


 13 Aggregate of Non-Promoter Shareholding  
    - Number of Equity Shares              390 lakhs    388 lakhs   389 lakhs
    - Percentage of Shareholding           58.94%       61.73%          58.85%
                                                                      


Notes:

  1. Net Sales for three months ended 30 June 2004 have been accounted for based
     on the average tariff determined by the Hon'ble West Bengal Electricity 
     Regulatory Commission (Commission) for the year 2004-05 vide order dated     
     24 May 2004. However, billing based on such order is yet to commence and 
     the above referred results are subject to changes once actual billings are
     made in accordance with the above order of the Comission.
    
  2. Auditors' Report on the latest accounts for the year 2003-2004 included  
     reference to certain Notes on Accounts in respect of some unprovided amount 
     relating to purchase of power from West Bengal State Electricity Board for
     past years. The Company, in view of consistently followed past practice 
     compatible with the nature of its business, has followed the same basis of 
     accounting in respect of these matter, the financial impact of which 
     pertaining to the period ended 30 June, 2004 is not ascertainable at this 
     stage.
           
  3. The Company is engaged in generation and distribution of        
     electricity and does not operate in any other reportable segment.
    
  4. Out of 16 investor complaints received during the quarter, 2     
     complaints received towards the end of the quarter were pending as 
     on 30 June, 2004 and have since been resolved.                   

  5. Figures for three months ended 30.6.2003 have been regrouped, where 
     necessary.

 
                                                         For CESC Limited    
                                                               S.Banerjee
                                                        Managing Director            
                                             

Dated: 30 July, 2004 




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            The company news service from the London Stock Exchange

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