BHEL registers 42% rise in net

State-run power equipment company Bharat Heavy Electricals Ltd (BHEL) has posted a 42 per cent increase in its net profit at Rs 667.7 crore for the quarter ended June 30, against Rs 470.6 crore in the same period last financial year.

Net sales or income from operations increased 15.8 per cent to Rs 6,479.7 crore during the quarter compared to Rs 5,595.7 crore in the corresponding period previous financial year, according to a BHEL statement said.

It has an outstanding order book position of Rs 1,48,000 crore at the end of the first quarter ended June.

The company’s revenues came from the power industry at Rs 5,399.9 crore, while others contributed Rs 1,476.3 crore during the June quarter.

The company recently secured a Rs 2,665-crore contract from Dainik Bhaskar Power Limited (DBPL), for supplying and installing boilers, turbines and generators for their upcoming 1,200-Mw thermal power project at Baradarha in Chhattisgarh.

BHEL’s scope of work in the contract includes design, engineering, manufacture, supply, erection, testing and commissioning of the equipment along with other associated auxiliaries. Independent power producers (IPPs) accounted for nearly 90 per cent of the total orders received by BHEL in the last financial year. Of the total orders of the 16,489-Mw power plant equipment received by BHEL during the year, those from IPPs alone accounted for 14,689 Mw.

The company currently manufactures equipment that can generate 15,000 Mw of electricity and its augmentation to 20,000 Mw per annum is underway.