CESC Q3 net marginally up, exits from Au Bon pain

Kolkata, Feb 8 (PTI) Power utility CESC Ltd today reported a 1.3 per cent increase in its standalone profit after tax (PAT) to Rs 154 crore in the quarter ended December 31, 2017 as compared to Rs 152 crore in the year-ago period.

The company also exited from the Au Bon Pain joint venture.

RP Sanjiv Goenka Group's flagship registered a sales growth of over three per cent in the quarter.

Revenue from operations for the December quarter was at Rs 1,706 crore, up by 5.3 per cent as against Rs 1,620 crore in the corresponding period of 2016-17, the company said in a statement.

"There is no increase in tariff," CESC chairman Sanjiv Goenka said.

He, however, did not comment on the tariff rise due to coal price revision recently but said there will be definitive cost impact.

CESC sources indicated that tariff owing to fuel cost may rise up to around 20 paise per unit.

The company's total expenses for the quarter under review was at Rs 1,622 crore as against Rs 1,511 crore in the same period of 2016-17.

Goenka said they are officially out from the Au Bon Pain joint venture and the group is promoting separate brands in restaurants and QSR by the family.

Au Bon Pain was promoted by Spencer's which is a subsidiary of CESC. The company suffered losses but it was not significant, Goenka said.

But, Spencer's will be separated after restructuring of the group entity is implemented.

Meanwhile, Spencer's has registered profit before depreciation and taxation in the December '17 quarter and was expecting profit before tax in the April-June quarter of 2018-19.

The retail chain has opened six new stores and by March it proposes to add another seven across the country. PTI BSM NN