Bharat Heavy Electricals Ltd (BHEL), state controlled power plant equipment manufacturer reported a 60 per cent rise in net profit during the July-September quarter of the current fiscal on the back of strong growth in industry segment.
Net profit of the company during the quarter under review stood at Rs. 185 crores, as compared to July-September quarter net profit of Rs. 115 crores. The company’s total revenue for September-end quarter rose 7 per cent to Rs 6,779.88 crores as its order book more than doubled.
BHEL said in a statement, “In a highly competitive and shrunken market, concerted efforts have resulted in the order book more than doubling to Rs 9530 crores for the first half of 2018-19 fiscal (April 2018 to March 2019) compared to Rs 3618 crores in the six months of corresponding FY17-18.”
BHEL Chairman and Managing Director Atul Sobti in an interview to PTI said, “The company has delivered a resilient performance due to the adoption of strategic initiatives like accelerated execution, cost control, and resource optimisation measures, resulting in significant progress in enhancing profitability and productivity, reinforcing leadership in the power sector, and strengthening non-power business areas.”
During the first half of FY 2018-19, the company registered a net profit of Rs. 341 crores, posting an increase of 74 per cent, and a turnover of Rs 12400 crores, up by 8 per cent over FY 2017-18.