BHEL Q2 net up 33% at Rs 1,142 cr | business | Hindustan Times
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BHEL Q2 net up 33% at Rs 1,142 cr

business Updated: Oct 29, 2010 17:24 IST

State-run BHEL today reported a 33 per cent increase in its net profit at Rs 1,142.28 crore for the quarter ended September 30 on the back of good revenues from the power sector. The company had posted a net profit of Rs 857.88 crore during the same period last year.

BHEL's revenues from power sector stood at Rs 6,965 crore during the July-September quarter, registering a growth of over 28 per cent against Rs 5,428.3 crore reported during the corresponding quarter of the last year.

Net sales of the company rose by 25.70 per cent to Rs 8,328.41 crore during the second quarter this fiscal as against Rs 6,625.21 crore for the same period previous fiscal, BHEL said in a filing to the Bombay Stock Exchange.

In a statement, the company said, "With this kind of result, BHEL has maintained its track record of earning profits uninterruptedly for nearly four decades". "With the highest-ever order book position of Rs 1,54,000 crore at the end of the second quarter, the company expects to achieve robust growth in 2010-11 and beyond," the statement added.

For the first half of this fiscal, the company posted a net profit of Rs 1,809.9 crore, registering a growth of over 36 per cent, against Rs 1,328.5 crore reported during the corresponding period a year ago.

In the six month period this fiscal its net sales stood at Rs 14,808.1 crore up 21.17 per cent compared to Rs 12,220.9 crore reported during the same period a year ago.

The largest public sector engineering company, which is capable of delivering equipments of 15,000 MW per annum, is augmenting the capacity to 20,000 MW. Shares of the company were trading at Rs 2,459.70 in the afternoon trade on the Bombay Stock Exchange, up 0.33 per cent for its previous close.