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BHEL's Q3 net profit vaults over to Rs 153 cr

Published: Feb 08, 2018

By TIOLCORPLAWS News Service

NEW DELHI, FEB 08, 2018: ESCALATING its growth momentum, the State-run power equipment manufacturer, Bharat Heavy Electricals Limited (BHEL) has reported a 64% jump in its standalone net profit to Rs 153.19 crore for the third quarter ended December 31. For the nine-month period of FY 2017-18, the company has recorded a Profit After Tax (PAT) of Rs 349 crore and a turnover of Rs.18,018 crore (net of excise duty).

Significantly, BHEL has also declared an interim dividend of 40% on the enhanced equity following a bonus issue earlier in the year. The turnover for the third quarter stands at Rs.6,494 Crore, compared to Rs.6,187 Crore recorded during the corresponding period last year. 

Mr. Atul Sobti, Chairman and Managing Director of the company said that prudent strategies of fast execution and resource optimization measures, concerted efforts for revival of stranded projects, have begun reflecting in the results. The next wave of growth will be engineered with a focus on enhancing the order book in the diversified as well as conventional areas.

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