BSES' net profit declined 42 per cent to Rs 162.33 crore (Rs 1.62 billion) for the year ended March 31, 2003, compared with Rs 280.74 crore a year ago.

Total income declined marginally to Rs 2,776.70 crore (Rs 27.76 billion) from Rs 2,782.67 crore (Rs 27.82 billion) in the previous fiscal, according to a release issued to the BSE on Monday.

The board has recommended a dividend of Rs 4.40 per share.