BSES Limited, India's leading power generation and distribution company, has recorded a 5% decline in its 3QFY01 bottomline to Rs 769 m. The company's turnover growth was a marginal 7% during the period. A 36% jump in its expenditure pruned its bottomline.
Sale of electrical energy
EPC, Contracts, Computer Service Income
Operating Profit (EBDIT)
Operating Profit Margin (%)
Profit before Tax
Profit after Tax/(Loss)
Net profit margin (%)
No. of Shares (eoy) (m)
Earnings per share*
Current P/e ratio
The company's increasing cost of electrical energy purchased continued to be its bane. The cost of electrical energy jumped 40% during the quarter to Rs 2,627 m.
On the operational front however, the company managed to prune its interest costs by 27% in 3QFY01, and by 24% on a nine month consolidated basis. Another redeeming factor in its 3QFY01 results was a whopping 214% jump in the income from EPC, contracts and the computer division.
On a nine month consolidated basis, the company's sale of electricity revenues improved by 15%, and its bottomline showed a small improvement of 1% YoY.
At the current price of Rs 226, the stock trades at a P/e multiple of 10.5 times its nine month annualised FY01 earnings.
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