Bangalore, Jan 24: BPL has posted a drop in its net profit in the third quarter of the current year at Rs 28.01 crore (down from Rs 29.06 crore in the corresponding quarter of 1998-99) despite a rise in gross sales to Rs 616.49 crore (Rs 547.30 crore). Income from operations during the quarter ending December 31, '99, was also up at Rs 575.20 crore (Rs 518 crore). Interest costs during the quarter were higher at Rs 12.14 crore (Rs 7.23 crore).The unaudited results for the quarter and the nine-month period were taken on record by the company's board on Monday.
For the nine-month period ending December 31, '99, however, the company's bottom line was boosted by over 10 per cent at Rs 77.28 crore (Rs 70.17 crore).
During the April-December period, gross profit was up 13 per cent at Rs 104.23 crore (Rs 92.33 crore) on net sales that grew to Rs 1535.27 crore (Rs 1432.01 crore). Gross sales during the 9-month period were Rs 1626.52 crore (Rs 1513.88 crore). BPL's exports brought in Rs 93.77 crore.
Duringthe last fiscal ending March '99, BPL made a net profit of Rs 102.48 crore on gross sales of Rs 2047.08.
The company claims it has overriden competitors achieving a 37.5 per cent growth in domestic colour television (CTV) sales although its appliances business posted a negative growth of 10.7 per cent. A company communique said although the washing machines market had shrunk, the company ``has retained the No. 1 position in the refrigerator and microwave oven market and No. 2 position in the washing machine market.''
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