CESC profit dips 54

CALCUTTA, June 10: CESC Ltd, belonging to the RPG group, on Tuesday reported a 53.87 per cent decline in net profit for the year ending March 31, 1997, although net sales rose by 16.85 per cent.The board of directors, which met to consider the unaudited results for the second half, has not declared any dividend for the year and company sources said that the dividend will be declared by July end when the audited result will be published.

For the full year, the net profit has gone down from Rs 89.64 crore in 1995-96 to Rs 41.35 crore provisional in 1996-97. Net sales, on the other hand, rose from Rs 1145.31 crore to Rs 1338.29 crore during the same period.This full-year8217;s net profit is the lowest earned by the company in the last four years. The net profit started picking up in 1993-94 when it earned Rs 42.48 crore.