Interim Results

RNS Number:4704E
CESC Ld
26 October 2004


                                 CESC LIMITED

       Registered Office: CESC House, Chowringhee Square, Kolkata 700 001 


                  Unaudited Financial Results (Provisional) 
              for the quarter/half year ended 30 September, 2004 

                                                                                
                                  Three months      Three months       Six months       Six months          Year 
                                 ended 30.9.2004   ended 30.9.2003   ended 30.9.2004  ended 30.9.2003  ended 31.3.2004
                                   (Unaudited)       (Unaudited)       (Unaudited)      (Unaudited)       (Audited)
                                       (1)               (2)               (3)              (4)              (5)

                                                                     Rs. Crores 

  1     Net Sales                       581               659              1217             1299             2348  
  2     Other Income                     19                15                33               28               68

        TOTAL                           600               674              1250             1327             2416

  3     Total Expenditure:                                                            
        (a)   Fuel Cost                 207               193               397              371              664
        (b)   Personnel Cost             53                63               107              126              242
        (c)   Power Purchase             42                92               139              195              291
        (d)   Others                    111               127               223              235              482

  4     Interest                         60                95               145              199              348

  5     Profit before Depreciation      127               104               239              201              389
                                                                    
  6     Depreciation                     75                81               150              163              296

  7     Profit before tax                52                23                89               38               93

  8     Provision for Taxation            0                 0                 0                0                7
                                                                        
  9     Net Profit                       52                23                89               38               86

 10     Paid-up Equity Share Capital     67                63                67               63               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              7.86              3.67             13.46             6.06            11.18

 13     Aggregate of Non-Promoter
        Shareholding
        - Number of Equity Shares                                     388 lakhs        387 lakhs        389 lakhs
        - Percentage of Shareholding                                      58.74%           61.57%           58.85%  

                                                                                


Notes:

1.   Net Sales for the quarter/half year ended 30 September 2004 have been 
     accounted for based on the average tariff determined by 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 has just commenced. The above referred 
     results are, therefore, subject to changes once the impact or the aforesaid
     order of the Commission on the billings made during the current year, is
     ascertained.
     
2.   Auditors' Report on the latest audited 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 the above matter, the 
     financial impact of which pertaining to the period ended 30 September, 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.   The ongoing Rights Issue of 82,65,203 Equity Shares of Rs. 10/- each at a
     premium of Rs. 50/- per share will close on 29 October, 2004.

5.   Out of the 16 investor complaints received during the quarter, 1 complaint
     was pending as on 30 September, 2004 and has since been resolved.
     
6.   Figures for the period ended 30.9.2003 have been regruped, where necessary.



                                                                For CESC Limited
                                                                     S. Banerjee
Dated: 26 October, 2004                                        Managing Director




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