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BSES Q2 net surges 134%

October 15, 2003 19:42 IST

BSES Ltd has posted a 133.94 per cent rise in its net profit at Rs 88.83 crore (Rs 888.3 million) for the quarter ended September 30, 2003 as against Rs 37.90 crore (Rs 379 million) in the corresponding period of previous year.

The company also announced a 10 per cent dividend.

Total income of BSES increased to Rs 808.5 crore (Rs 8,085 million) in the second quarter as against Rs 744.35 crore (Rs 7,443.5 million) in the previous fiscal, the company told Bombay Stock Exchange, on Wednesday.

At its meeting on Wednesday, the BSES board considered the proposal for a merger of Reliance Salgaocar Power Company Ltd, an unlisted entity, with the company, as per the scheme of arrangement, subject to necessary approvals and sanction of the high court.

It also approved payment of a quarterly dividend of Re 1 per share on the equity shares of the company.

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