Healthy financials charge up BHEL

DALAL STREET SPIKES

Power equipment major, BHEL hit an all time high of Rs 686 on impressive financial performance. The stock in a volatile trading finally closed at Rs 654.45, gaining 5.10 per cent from its previous close of Rs 622.70. More than 7.9 lakh shares changed hands at this counter at the BSE alone.

On April 2, BHEL announced a 38 per cent jump in its net profit after tax at Rs 615 crore on a highest ever turnover of Rs 8,619 crore.

The company also said that it witnessed highest-ever order inflow of Rs 16,469 crore in a single year in financial year 2004 despite intensely competitive national and international markets. BHEL's strong showing in current fiscal is attributed to the economic rebound and especially the rebound in the capital goods sector.

At the end of the previous fiscal, outstanding orders in hand stood at over Rs 23,650 crore.