94GL Bk. America 30

RNS Number:0480O
CESC Ld
1 December 2001






Unaudited Financial Results (Provisional) for the half year ended 30th 
September,  2001

                   Six months  Six months  Three months  Three months Year ended
                        ended       ended         ended         ended
                   30.9.2001   30.9.2000   30.9.2001     30.9.2000     31.3.2001
                   (Unaudited) (Unaudited) (Unaudited)   (Unaudited)   (Audited)
                       (1)        (2)         (3)           (4)          (5)
                                        Rs. Crores

1.Net Sales                975        983         475          504         1757

2.Prior Period 
   Adjustment                -          -           -            -           57

3.Other Income              36         39          19           17           85
  Total                   1011       1022         494          521         1899

4.Total Expenditure
  (a)Fuel Cost             325        310         178          161          571
  (b)Personnel Cost        103         96          50           46          197
  (c)Power Purchase        194        150          91           71          305
  (d)Others                144        133          76           70          262
                                                      
5.Interest                 218        213         110          110          428

6.Profit before
    Depreciation            27        120         (11)          63          136

7.Depreciation             160        153          82           81          308

8.Profit/(Loss)before tax (133)       (33)        (93)         (18)        (172)

9.Provision for Taxation     0          0           0            0            0

10.Net Profit/(Loss)      (133)       (33)        (93)         (18)        (172)

11.Paid-up Equity
   Share Capital            58         58          58           58           58
   (Shares of Rs.10 each)

12.Net Reserves(excluding
    Revaluation Reserve of
    Rs.1372 Crores) as per
    Balance Sheet as on 
    31 March, 2001                                                          151

13.EPS (Rs.)
   - Basic              (23.03)     (5.71)     (16.10)       (3.12)      (29.78)
   - Diluted            (21.16)     (5.25)     (14.80)       (2.86)      (27.37)

14.Aggregate of Non-
    Promoter 
    Shareholding 
    No. of shares     363 Lakhs         -           -            -            -
    % of shareholding   57.86%          -           -            -            -

Notes:

1.     Tariff revision awards for 2000-01 and 2001-02 were finalised by the West
       Bengal Electricity Regulatory Commission on 7 November, 2001 and accounts
       for the year 2000-01 were approved by the Board of Directors on 24       
       November, 2001.  In view of the limited time available and since full    
       implications of the award for 2001-02 likely to affect the entire tariff 
       structure are still being studied, the accounting information for the    
       half-year ended 30 September, 2001 have been complied on a reasonably    
       estimated basis and provision for deferred taxation, if any, could not   
       be made.  Hence the above result for the said half-year might require    
       adjustments later.

2.     Results for the previous periods appearing in Columns(2) and (4) have not
       been recast on the basis of 2000-01 tariff revision award and hence      
       figures in the said columns are not strictly comparable.

3.     The Company is engaged in generation and distribution of electricity and 
       does not operate in any other reportable segment.  Pending leave of the  
       Hon'ble Supreme Court in SLP (C) No. 11810 of 2001, the Company has kept 
       in abeyance giving effect to the revised tariff in its consumer billing.

4.     Auditors' Report on the latest audited accounts for the year 2000-01     
       included reference to some unprovided claims of Damodar Valley           
       Corporation/West Bengal State Electricity Board and shortfall in corpus  
       of gratuity fund.  The Company has followed the same basis of accounting 
       in respect of these matters while compiling the above results. 


DATED:  24 NOVEMBER 2001

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