BHPV turnover jumps 56% at Rs 244 crore in FY13

Bharat Heavy Plates and Vessels Ltd, a wholly-owned subsidiary of Bharat Heavy Electricals Ltd, has registered a 56% jump in turnover at Rs 243.52 crore in fiscal 2012-13.

"BHPV has achieved a turnover of Rs 243.62 crore in financial year 2012-2013 against Rs 155.80 crore in previous fiscal," a company statement said here today.

BHPV Executive Director C P Chengappa said it was for the first time in the last 10 years that the turnover crossed the Rs 200-crore mark.

"There has been a sharp increase of 56.36% in the turnover than the last financial year. The Profit After Tax (PAT) for year 2012-13 stood at Rs 23.90 crore gainst Rs 10.44 crore in FY12," he said.

"FY13 was the third consecutive year that BHPV achieved profit after it was taken over by BHEL. This excellent performance will pave the way for the much-awaited merger with BHEL which was on the anvil," Chengappa said.