BSES clocks 11.4 per cent growth in net

Mumbai, July 28: BSES has posted a 11.4 per cent growth in net profit at Rs 87.81 crore in the first quarter of the current financial, compared with Rs 78.66 crore in the corresponding period last year. Sale of electrical energy has increased marginally from Rs 463.22 crore to Rs 470.08 crore.

According to the company management, its plant load factor for April-July was 88.3 per cent (79 per cent last year) and hence the marginal increase of 1.5 per cent in sale of electrical energy indicates higher sale to residential clients. The income from EPC, contracts, computer and international divisions at Rs 193.32 crore was higher by 31.45 per cent compared to Rs 147.09 crore in the first quarter of 1998-99. Other income at Rs 26.36 crore has almost doubled from Rs 14.69 crore.

Interest and finance charges at Rs 24.24 crore (Rs 31.47 crore) was lower by 23 per cent on quarter to quarter basis. This is because of the pre-payment of loans from IFC Washington and Indian FIs during 1998-99.