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BPL net, turnover rise 5 pc

Our Bureau

BANGALORE, June 18

THE gross turnover of BPL Ltd for 1999-2000 grew by five per cent over the previous year while net profit also improved by five per cent at Rs. 107.13 crores (Rs. 102.47 crores). A higher dividend of 60 per cent (50 per cent) has been recommended.

The fourth quarter performance, in particular, has affected the overall results. Both sales and profits were lower during the fourth quarter. BPL posted a lower net profit of Rs. 29.85 crores (Rs. 32.56 crores) on a lower gross turnover of Rs. 502.02 cro res (Rs. 533.20 crores).

During the year, the export of CTVs registered a growth of 148 per cent and on the domestic front, the division posted a 35 per cent growth. A release issued by the company said BPL was the only brand to sell more than a million CTVs (11.85 lakh CTVs) in a single financial year.

The turnover of the home appliances division during 1999-2000 fell by nine per cent. The company claimed that with a share of 31 per cent, it was the leader in the frost-free refrigerator category. BPL, incidentally, has launched `Converti' giving the c ustomer the option of converting the freezer's space into a refrigerator.

In actual terms, net sales were higher at Rs. 2,014.67 crores as compared to previous year's Rs. 1,939.72 crores. Interest charges were higher at Rs. 48.48 crores (Rs. 40.42 crores) and depreciation provision went up to Rs. 26.02 crores (Rs. 21.18 crores ).