For the first half of the fiscal, the RPG flagship had reported a loss of Rs 29 crore. Market sources are expecting a bigger second-half loss, ranging from at least Rs 40 crore to Rs 100 crore.

The higher figure will show up if CESC takes into account depreciation for the first unit of its Budge Budge thermal power station, which was synchronised on September 17 last year and generated 245mu during the remaining part of the fiscal. Some markets sources indicated that the loss could be around Rs 120 crore, but close watchers of CESC believe that it will not be that high. When contacted, RPG sources declined to comment.