According to a company press release, the net profit was lower this year mainly due to higher cost of electricity purchased from bulk suppliers. Income has gone up by 22.82 per cent to Rs 701.16 crore as against Rs 570.87 crore in the corresponding period of the previous year.

Pending adjudication of the issue of standby charges by competent authority, a sum of Rs 30 crore has been paid to Tata Electric Companies in October 2000, and an equal amount has been deposited with Maharashtra Electricity Regulatory Commission in January 2001. The company has not acknowledged this liability and hence no provision has been made towards it.

The income for the 9 months ended December 31, 2000 rose 13.95 per cent from Rs 1,834.90 crore to Rs 2.090.87 crore for the same period the previous year.

The company said that BSES continues to pursue the various clearances for its proposed 495 mw Saphale Project and the company has obtained the necessary water linkage of 5.5 mld from the Irrigation Department of the Government of aharashtra.