CESC IN RED FOR FIRST TIME WITH Rs125-CR LOSS
Article Abstract:
CESC has posted a net loss of Rs125 crore for 1997-98 against a net profit of Rs41 crore in 1996-97. The power utility, which supplies electricity to 1.5 million consumers, has posted losses for the first time in the 100 years of its operations. Its interest charges have gone up to Rs237 crore, an increase of Rs105 crore in 1997-98. Its Budge Budge project accounts for Rs56 crore in interest charges. Expenditure has increased by Rs161 crore to Rs1324 crore in 1997-98. Its income has moved up by Rs146 crore to Rs1475 crore. (rk)
Comment:
Posts net loss of Rs125 crore for 1997-98 against net profit of Rs41 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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DISTRIBUTIVE GAINS? NOT QUITE--CESC
Article Abstract:
CESC Ltd of RPG group is a power distribution firm, which operates in Calcutta. It has an installed capacity of 815 mw. It commissioned the first phase (250 mw) of the Budge Budge power plant during 1997-end. The second phase is under progress. It is facing problems of cost overruns. The revision in the project's cost is yet to be approved by the Government of India. CESC has incurred net loss of Rs138 crore in the first half of 1998-99. The poor performance is attributed to high rate of pilferage and transmission and distribution losses. (gs)(psr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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