MUMBAI, Nov 27: BSES, the Mumbai-based power utility, has registered a 15 per cent increase in net profit to Rs 108.43 crore for the first half of the current financial year from Rs 94.19 crore in the corresponding period last year. Turnover was up by 15.40 per cent to Rs 1,012.11 crore from Rs 877.06 crore. Gross profit increased to Rs 190.96 crore from Rs 159.73 crore.

According to a press release, the increase in profits has been attributed to a plant-load factor of 82.48 per cent, up from 73 per cent last year. The 500mw power plant at Dahanu is operating at full capacity, the release says.

BSES has made substantial progress in implementing its new projects. The company has submitted an environment-impact assessment report to the Maharashtra Pollution Control Board for its proposed 495mw power project near Palghar.

BSES is acquiring land and signing a power-purchase agreement with the Gujarat Electricity Board (GEB) for the 55mw project it was awarded earlier. It has also been selected as the preferred bidder for the 109mw power plant to be set up at Kheralu in Gujarat.

BSES is now implementing a 160mw combined-cycle power project at Kerala through its subsidiary, BSES Kerala Power. In Tamil Nadu, the company is holding talks with the state electricity board for its proposed 250mw lignite-based power station at Srimushnam near Neyveli. The project is being implemented by Tamil Nadu Industries Captive Power Company (Ticapco).

Work on the 2.5-million-tonne coal-washery, which is a part of the ST-BSES Coal Washeries (SBCW) joint venture at Bilaspur, Madhya Pradesh, is at an advanced stage, and the project is scheduled for commissioning by the middle of 1998.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.