BHEL's tentative net profits declines by 62 percent

State-run power equipment-maker Bharat Heavy Electricals Ltd. (BHEL) said on Monday that the provisional net profit of the company declined by 62 percent at Rs.1,314 crore during 2014-15 against Rs.3,461 crore during the previous year.

In a regulatory filing with the Bombay Stock Exchange, the company said its provisional turnover for the period under review is expected to decline by nearly 24 percent at Rs.30,806 crore against Rs.40,338 crore earned during 2013-14.

The unaudited order inflow, however, for the last fiscal year rose by 10 percent at Rs.30,814 crore against Rs.28,007 crore during 2013-14.

During 2014-15, the company not only bagged deals across the nation to set up power plants, it also entered Turkey with a contract valued at euro 16.96 million and partnered with other state-run companies to bid for the P-75 I submarine project of the Indian Navy.

It has also targeted countries in the Russian sphere of influence including Russia, Kazakhstan, Belarus and Tajikistan.