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This is an archive article published on May 9, 1999

BPL net up 20, to pay 60 pc

MUMBAI: BPL has recommended a 60 per cent dividend for 1998-99 having registered a 19.75 per cent surge in its net profit during the year...

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MUMBAI: BPL has recommended a 60 per cent dividend for 1998-99 having registered a 19.75 per cent surge in its net profit during the year to Rs 102 crore as against Rs 85.57 crore recorded in the previous fiscal.

The board today announced a final dividend of 35 per cent taking the total dividend for 1998-99 to 60 per cent. Its net sales for the fiscal stood at Rs 1940 crore, up 11 per cent from Rs 1746 crore a year earlier.

The company is likely to incur a cost of Rs 21 crore for mitigating Y2K related problem by September 1999, the company said in statement.

Gross sales during 1998-99 stood at Rs 2047.08 crore from Rs 1843.85 crore a year ago while other income was lower at Rs 84 lakh from Rs 2.67 crore.Total expenditure during the year was Rs 1764.99 crore from Rs 1598.78 crore while gross profit was Rs 175.57 crore as against Rs 150 crore in 1997-98.

 

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