3rd Quarter Results

RNS Number:8948N
CESC Ld
13 February 2008


To RNS dated 31 January 2008

Further to our letter dated 22 January 2008, we enclose for your record a copy
of the Unaudited Financial Results (Provisional) of the Company for the quarter/
nine months ended 31 December 2007, 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 quarter/nine months ended 31 December 2007
                               
                                                                                                          Rs. Crore
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                                 Three months        Three months     Nine months      Nine months        Year
                                     ended               ended            ended            ended           ended
Particulars                       31.12.2007          31.12.2006       31.12.2007       31.12.2006      31.03.2007
                                 ----------------------------------------------------------------------------------
                                  (Unaudited)         (Unaudited)     (Unaudited)      (Unaudited)       (Audited)
                                      (1)                 (2)              (3)             (4)              (5)
-------------------------------------------------------------------------------------------------------------------
Net Sales                             676                 592             2123             1941            2484
Other Income                           27                  22               83               64              93
Total Income                          703                 614             2206             2005            2577
Expenditure:
  (a) Fuel Cost                       204                 201              652              650             843
  (b) Personnel Cost                   82                  70              227              207             278
  (c) Power Purchase                   79                  56              310              232             268
  (d) Depreciation                     43                  41              124              123             158
  (e) Other Expenditure               156                 140              508              393             521
Total Expenditure                     564                 508             1821             1605            2068
  Interest                             33                  37              106              133             168
  Exceptional Income                    0                   0               25                0               0
Profit from ordinary activities 
 before tax                           106                  69              304              267             341
Tax Expenses:-
  Current & Fringe Benefits tax        13                   8               36               31              40
  Deferred Tax (Net)                   36                  45              108               89             129
  Less: Recoverable                   (36)                (45)            (108)             (89)           (129)
Net Profit from ordinary activities
 after tax                             93                  61              268              236             301
Paid-up Equity Share Capital          126                  83              126               83              85
 (Shares of Rs.10 each)               
Reserves (excluding Revaluation
 Reserve of Rs.1822 Crores) 
 as per latest audited Balance 
 Sheet as on 31 March 2007                                                                                 1908

Earnings Per Share (EPS) (Rs)- 
 Basic & Diluted (*not annuualised) *7.92               *7.36           *23.10           *28.47           36.20

Aggregate of Public Shareholding
  Number of Shares                                                   592 lakhs        497 lakhs       497 lakhs
  Percentage of Shareholding                                             47.42%           60.32%          58.90%

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Notes:
     
1.   Net Sales have been arrived at in accordance with the applicable orders of 
     appropriate authorities which have been adjusted for advance against 
     depreciation. Other Expenditure has been arrived at after taking into 
     consideration adjustments for cost of fuel and electrical energy purchased 
     and those relating to revenue account which have been determined/estimated 
     based on the Company's understanding of available orders and regulations, 
     which may require further adjustments on receipt of subsequent 
     orders/directions from the appropriate authorities and accordingly 
     necessary adjustment has been made against the current quarter/nine months 
     expenditure on receipt of the order for 2006-07. Exceptional Income 
     represents the net income in respect of one-off disposal of certain 
     discarded old fixed assets of the Company. 

2.   In terms of the Scheme of Amalgamation as sanctioned by the Hon'ble High 
     Court at Calcutta, the holding Company of Spencer's Retail Limited was 
     merged with the Company from 1 April 2007, involving issue of 3,10,58,414 
     fully paid up equity shares of Rs. 10 each, which were allotted by the 
     Company on 12 October 2007. 

3.   During the quarter, 95,60.000 equity shares of Rs. 10 each were also 
     allotted by the Company for cash at a premium of Rs.608 per share to 
     Qualified institutional Buyers in accordance with Chapter XIIIA of the SEBI 
     (DIP) Guidelines, 2000 as amended. 

4    EPS in columns (2) and (4) have been restated in terms of Accounting 
     Standard 20 issued by the Institute of Chartered Accountants of India. EPS 
     in column (3) has been computed considering issue of the aforesaid 
     3,10.58,414 equity shares as effective from 1 April 2007, being the 
     Appointed Date set out in the aforesaid Scheme. 

5.   The Auditors of the Company have carried out limited review of the above 
     unaudited financial results. 

8.   The Company is engaged in generation and distribution of electricity and 
     does not operate in any other reportable segment. 

7.   Figures of the previous periods have been regrouped / rearranged, where 
     necessary. 

8.   All the 23 investor complaints received, have been redressed during the 
     quarter. 



          
                                                           By Order of the Board
                                                                     S. Banerjee
                                                               Managing Director
Dated: 31 January, 2008
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