Mumbai, May 31: Bses has reported a 13.54 per cent increase in net profit at Rs 306.82 crore for the year ended March 2000 as against Rs 270.24 crore during the previous year. Total income during the year was Rs 2,429.63 crore up from Rs 2,349.43 crore in the previous year. The board has recommended that the interim dividend of Rs 37 paid on May 22, 2000 to be taken as final dividend for the year 1999-2000.Interest and other finance charges declined to Rs 94.24 crore as against Rs 114.64 crore on account of prepayment of loans. In order to reduce the interest burden from the higher coupon rate term loans the company prepaid the balance loans to Indian financial institutions amounting to Rs 43 crore. In addition, with a view to minimising the foreign exchange exposure the company prepaid $17.64 million to the IBRD being a part of the loan available for the Dahanu power project. With this prepayment, the entire term loan availed by the company from the financial institutions for the Dahanu power project stands prepaid, except for a part of the loan availed from the IBRD.
The Dahanu power station operated at PLF of 88.68 per cent during the period under review as against PLF of 76.6 per cent achieved during the previous year. The power station achieved a plant availability of 98.42 per cent, one of the highest among utilities of the country, up from 92.24 per cent in 1998-99.
A company release said that distribution loss of the electricity supply division declined marginally to 11.50 per cent for the sixth year in succession. The contracts division and the EPC business group has on hand orders amounting to Rs 665.34 crore as on March 31, 2000.
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