Bpl First-Half Net Declines 50%

Consumer electronics major BPL Ltd has posted a 50.38 per cent drop in net profit at Rs 20.55 crore for the half-year ended September 30, 2001 against Rs 41.22 crore clocked for the same period last year. Total income for the half year ended September 30, 2001 was lower at Rs 629.59 crore compared to Rs 812.46 crore for the half-year ended September 30, 2000.

Gross sales in the quarter ended September 30, 2001 stood at Rs 341.37 crore below Rs 459.16 crore in the corresponding period last year. Profit before tax has been recorded as Rs 11.24 crore in the quarter ended September 30, 2001 which is less from Rs 24.11 crore in the same period last year.

However, BPL Ltd said on Wednesday that sales of colour television sets, hit by a slowdown in the economy, are gradually reviving.

"The colour television market has shown early signs of recovery in October-November after having experienced a slowdown during the last two years," it said in a statement after releasing its results.

BPL said it consolidated its leadership in a market fiercely fought by Videocon International, Philips India Ltd as well as a clutch of Korean and Japanese firms including Samsung, LG and Sony. It sold 215,000 colour TV sets in October and November but did not give details of its market share.

Sales of colour TVs in India grew to 620,000 units in October from 580,000 units in the same month last year, the Consumer Electronics and TV Manufacturers Association said in early November.

The industry anticipates most of the sales growth to come from smaller towns and rural areas instead of urban centres which have previously led the growth.

BPL said it expects its sales in the second half to be "significantly" higher than the first half.