BHEL net profit rises 15.6% to Rs 772 cr

CORPORATE SCORECARD

Power equipment and engineering major Bharat Heavy Electricals (BHEL) has posted a 15.6 per cent rise in net profit at Rs 772 crore for the quarter ended December 31, 2007 as compared to Rs 668 crore for the same quarter last year on the back of robust growth in its equipment business.

Income from operations has also increased by 17.3 per cent to Rs 5,529 crore in the third quarter from Rs 4,710 crore for the third quarter of last year. The government owned firm's income from its flagship power business rose by 18 per cent per cent at 4,204 crore from Rs 3,538 crore in the same period last year.

The order book of the company as on date stands at Rs 78,000 crore, which include orders from both power and other engineering sector.

The earning per share (EPS) for this quarter has also increased to Rs 15.77 from 13.64 in the corresponding period last year.

The sensex 30 company has plans to ramp up its power equipment capacity to 15,000 mw from the current 10,000 mw at a total investment of Rs.3,200 crore.

Recently, BHEL secured its first order for supercritical boilers for the 16,00 Mw supercritical thermal power project at Udangudi in Tamil Nadu.

BHEL and Tamil Nadu Electricity Board have signed a memorandum of understanding for the formation of a joint venture for setting this supercritical power project with a total capital outlay of around Rs.8,500 crore.