Sunday, January 29, 2012

BHEL posts 14 % jump in net profit at Rs.3,660 crore

Bharat Heavy Electrical limited (BHEL) on Friday reported a 14 per cent jump in net profit at Rs.3,660.20 crore in the nine months ended December 31, 2011.

The power equipment major had a net profit of Rs.3,213.20 crore in the year-ago period. Sales rose to Rs.29,269.10 crore from Rs.24,756.50 crore in the same period a year ago, the company said in a statement here.

In the December quarter, the net profit rose to Rs.1,432.60 crore from Rs.1,412 crore. Sales stood at Rs.11,078.30 crore as against Rs.10,757.60 crore in the year-ago period.

Interestingly, BHEL has maintained its track record of earning profits uninterruptedly for nearly four decades without a break. Significantly, its turnover has increased by three times and the net profit by four times in the last five years, the statement said. The company's order book position stood at Rs.1,46,500 crore, at the end of the first quarter and it expects to achieve robust growth in 2011-12 and beyond.

BHEL has been pushing ahead with modernisation by way of contemporary technology, state-of-the-art manufacturing facilities and skilled technical manpower to meet the country's power forecast in the future. The company has established the capability to deliver 15,000 MW per annum of equipment and further augmentation to 20,000 MW per annum is under way.