BHEL Q1 net up 13%

Bharat Heavy Electricals Ltd (BHEL), the country’s largest power equipment manufacturer, has posted a 13 per cent jump in net profit at Rs 920.9 crore for the quarter ended June, against Rs 815.5 crore recorded in the same quarter last year. Total income was up 17 per cent at Rs 8,805 crore, compared to Rs 7,520.1 crore in the corresponding quarter.

While company officials were not available for comment, market experts said the financial results were in line with expectations. “The profit has been as per estimates and has been driven by higher than expected other income,” Mumbai-based brokerage Emkay Global Financial Services said in a statement.

BHEL generated other income of Rs 1,128 crore, a 20 per cent jump against Rs 936 crore in the corresponding quarter of 2011-12. Other income includes revenue from non-core areas including interest on capital employed. It has a current order book position of Rs 132,900 crore, including a Rs 950-crore contract for supplying equipment for 1,020-Mw Punatsangchhu-II Hydroelectric project and 1,200-Mw Punatsangchhu-I project in Bhutan.