The CESC board has considered and approved a proposal for the sub-division of the existing 1 equity share of nominal value of Rs 10 each to be sub-divided into 10 equity shares of a nominal value of Re 1 each, it said.

The Alteration of Capital Clause of the Memorandum of Association and Articles of Association of the company resulting from the said sub-division was also approved, the company added. The move is subject to the approval of the company’s shareholders.

CESC on Wednesday posted an over 13 per cent jump in its consolidated net profit at Rs 429 crore in the March 2021 quarter, mainly boosted by higher revenues.

The company’s consolidated net profit was Rs 378 crore in the quarter ended March 31, 2020, according to a BSE filing. Total income during January-March 2021 rose to

Rs 3,003 crore compared with Rs 2,729 crore a year ago.

For the full financial year 2020-21, the consolidated net profit stood at Rs 1,363 crore compared with Rs 1,309 crore in 2019-20. Total income during the fiscal stood at Rs 11,874 crore compared with Rs 12,378 crore a year ago.

The board also approved convening of its 43rd annual general meeting of the company’s members on August 18 this year through video conferencing or other audio-visual means.

Spencer’s loss

RP-Sanjiv Goenka Group firm Spencer’s Retail has narrowed its consolidated net loss to Rs 34.53 crore for the fourth quarter ended March 2021. The company had posted a net loss of Rs 49.26 crore in the January-March period a year ago.