Bhel Q1 net zooms 54% to Rs 77.77 crore

State-run power equipment maker Bhel reported 54.21 per cent jump in net profit at Rs 77.77 crore in April-June period mainly because of positive topline (turnover) growth after three-and-half years.

The company posted a net profit of Rs 50.43 crore in the June quarter of last financial year, Bhel said in a regulatory filing.

Total income increased from Rs 4,858.95 crore to Rs 5,871.78 crore for the quarter ended June 30, 2016.

Bhel's turnover has shown a double-digit growth of 29 per cent compared to the corresponding period in the previous year.

The company has beaten street expectations by reversing the trend of negative topline growth prevailing for the last 14 straight quarters.

Its total sales or income from operations rose to Rs 5721.19 crore in the first quarter from Rs 4421.01 crore in the year-ago period.

Attributing the reversal in the trend of negative growth to accelerated execution, Bhel Chairman and MD Atul Sobti said specific steps of expeditious execution and enhanced order booking have been initiated by the company.

BHEL's revenue from power segment business increased to Rs 4335.49 crore in the first quarter compared to Rs 3289.78 crore a year ago.

The revenue from industry segment too rose to Rs 1385.70 crore in the first quarter from Rs 1131.23 crore in the same period a year ago.

The company has an outstanding order book position of Rs 1,08,000 crore at the end of first quarter of this financial year.