DPSC Limited (formerly known as Dishergarh Power Supply Company Ltd), one of the oldest power utilities in India, today declared its financial performance for the third quarter and nine months ended December 31, 2012.
Net sales for the quarter stood at Rs 140 crore, registering a growth of 12%, as compared to Rs 125 crore in the same period last year. EBITDA was up 103% in Q3FY13 to Rs 17.63 crore against Rs 8.67 crore in Q3FY12.
Profit after tax (PAT) for the quarter rose by 135% to Rs 6.40 crore compared to Rs 2.71 crore in corresponding period last year.
The average T&D Loss for the quarter ended December 31st, 2012 was 3%, as compared to the industry average of 25% or more.
Mr. Hemant Kanoria, Chairman, DPSC Ltd, said, “Power Sector is embroiled with multiple problems, primary being fuel supply which has resulted in acute power shortage and increased tariff.
The Government should address the issues in a holistic manner so that the power tariff does not increase, lest it will result in uncontrollable inflation.”
He further added, “However, DPSC with its cautious approach has been doing well. The Company’s operations during the nine months have shown an upward trend as evident from the rise in the sales figure and EBIDTA. We have also undertaken an optimization routine to improve our efficiency and with the much awaited merger of India Power Corporation with DPSC nearing completion, we will soon be becoming an integrated player with focus on integration of Distribution & Generation.”