BHEL net profit drops 62% to Rs 1,314 crore in FY15

State-run power equipment maker BHEL today reported 62 per cent decline in net profit to Rs 1,314 crore for 2014-15 fiscal, pulled down by slowdown in the market due to regulatory constraints.
The company had reported a net profit of Rs 3,461 crore in 2013-14, BHEL said in a regulatory filing.
Total turnover of the company during 2014-15 declined to Rs 30,806 crore, from Rs 40,338 crore in the previous fiscal.
"Profit impact is due to low volumes as a result of the retarding force of last three years, market shrinkage due to issues relating to coal linkages, fund constraints, land acquisition, clearances, etc," BHEL said in a statement.

BHEL secured orders worth Rs 30,794 crore during 2014-15, an increase of 10 per cent over last year, from its diversified business segments covering both domestic and international markets, the company said in a statement.
Orders in power sector stood at Rs 24,873 crore and for the industries sector at Rs 5,201 crore.

The company booked Rs 720-crore export orders and ended the year with a total order book of Rs 1,01,159 crore.
Recently the PSU bagged a contract of over Rs 5,000 crore for executing a thermal power project for the Telangana State Power Generation Corporation (TSGENCO).
The order envisages setting up a thermal plant at Manuguru in Khammam District of Telangana and is targeted to be commissioned in 24 months.

TSGENCO has also entered into a preliminary agreement with BHEL for construction of new thermal power plants totalling 6,000 MW in the state.
BHEL shares closed at Rs 235, up 1.38 per cent on the BSE from the previous close.