Date:07/05/2005 URL: http://www.thehindu.com/2005/05/07/stories/2005050701721703.htm

Business - Briefly

Essar Power net profit doubles

CHENNAI: Essar Power reported a net profit of Rs. 119 crores for the year ended March 31, 2005 against Rs. 60 crores in the previous year. Total income increased to Rs. 735 crores from Rs. 549 crores in the previous year, an increase of 34 per cent. The profit before interest, depreciation and tax, stood at Rs. 414 crores against Rs. 360 crores, a rise of 15 per cent. After providing for interest cost of Rs. 175 crores, depreciation of Rs. 117 crores and corporate tax of Rs. 3 crores, the net profit was Rs. 119 crores.