CESC Q3 earnings: Net profit falls, board announces dividend 

Shares of CESC Ltd slipped in the fag end of trade today after the power utility firm announced its Q3 earnings. Net profit slipped to Rs 282 crore in Q3 against Rs 301 crore in the corresponding quarter of the previous fiscal. Revenue rose 9.8% to Rs 3,561 crore in Q3 against Rs 3244 crore in the corresponding quarter of the previous fiscal.

Total income climbed 11% to Rs 3657 crore in the last quarter against Rs 3301 crore in the December 2023 quarter. The company also announced an interim dividend of Rs 4.5 per equity share and fixed record date for the same on January 16, 2025.

"Declared an interim dividend@ INR 4.50/-per equity share (i.e., 450%) on the paid-up equity share capital of the Company payable to those members whose names appear in the Register of Members of the Company, or, will appear as beneficial owners (as per particulars furnished by the Depositories viz., National Securities Depository Limited andCentra1Depository Services (India)Limited) at the close of the business on January 16, 2025, being the "Record Date" to ascertain the eligibility of members to receive the said interim dividend," said CESC.

CESC shares fell 4.93% to Rs 161.65 against the previous close of Rs 170.05 on BSE. Market cap of the firm slipped to Rs 21,573 crore. Total 9.69 lakh shares changed hands amounting to a turnover of Rs 16.14 crore on BSE.

In terms of technicals, the relative strength index (RSI) of the stock stands at 33.77, signaling it's trading neither in the overbought zone nor in the oversold zone. CESC stock has a one-year beta of 1.4, indicating high volatility during the period. CESC stock shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

CESC's principal business is generation and distribution of electricity.