BSES net up 23%, to pay 32%

MUMBAI, June 30: BSES Ltd has posted a net profit of Rs 267.27 crore for 1997-98, up by 23 per cent from Rs 213.30 crore in the previous yea...

MUMBAI, June 30: BSES Ltd has posted a net profit of Rs 267.27 crore for 1997-98, up by 23 per cent from Rs 213.30 crore in the previous year. The company has achieved an aggregate income of Rs 2,051 crore, as compared to Rs 1,900 crore last year.

The board of directors has recommended a dividend of Rs 3.20 per share (32 per cent). Income from sale of electrical energy rose by seven per cent from Rs 1,772 crore to Rs 1,890 crore. Other income, including income from contracts and computers divisions, increased by 26 per cent from Rs 128 crore to Rs 161 crore during the same period.

According to a BSES statement, important factors contributing to improvement in profitability were a substantial improvement in plant load factor of Dahanu power station to 85 per cent, sustained low level of distribution loss, larger supply of power to licensed area from its own power station, reduced purchase from the Tata Electric Companies and an all round cost control.

Story continues below this ad

BSES’s drive to contain the system loss has paid offas it has declined for the fourth year in succession and was contained at 11.6 per cent down from 14.95 per cent in 1993-94, 13.9 per cent in 1994-95, 12.5 per cent in 1995-96 and 11.7 per cent in 1996-97. During the year, the company has incurred capital expenditure of about Rs 153 crore and plans to invest Rs 500 crore as part of its five year (1996-2000 with outlay of Rs 860 crore) comprehensive programme of augmentation, upgradation and modernisation of the system.

The Dahanu power station generated 3,723 million units at an average plant load factor of 85 per cent against 3,206 million units generated at a plant load factor of 73 per cent in the previous year. The station achieved plant availability of 90.49 per cent, the highest among the private sector utilities. The contracts division achieved the highest ever turnover of Rs 88.61 crore, recording an increase of 15 per cent over the previous year.

The company has been awarded a contract for supply, installation and commissioning of 132 kV/11 kVsubstations and other associated works at Dubai at a project cost of about Rs 155 crore by Dubai Electricity and Water Authority.

The release states that BSES continues to pursue the proposal to set up a 495 mw naphtha-based power station at Palghar in Thane district.