New Delhi: Power equipment maker BHEL on Wednesday posted about 93% jump in standalone net profit to Rs155.58 crore in the first quarter of current fiscal on higher revenues.
Its net profit was Rs80.82 crore in the April-June quarter of last fiscal, 2017-18, the company said in BSE filing.
BHEL’s total income in the first quarter of 2018-19 rose to Rs6,114.10 crore, as against Rs5,980.77 crore a year ago.
It recorded a turnover of Rs5,790 crore, as against Rs5,355 crore, an increase of over 8%. “Concerted efforts resulted in order book to increase by two-and-a-half times to Rs4,371 crore, compared to Rs1,744 Crore in the corresponding quarter last year,” BHEL Uatul Sobti told PTI.
He said this has been made possible through prudent strategies of accelerated execution, cost control and resource optimization measures.
The next wave of growth is being engineered with a focus on enhancing the order book in diversified as well as conventional areas, coupled with efforts to further enhance the executable order book, he added.
“Prudent strategies of garnering a higher market share in a shrunken and highly competitive business environment have also paid rich dividends and BHEL has a total order book of around Rs117,000 crore, at the end of the first quarter of the current fiscal,” he said.
BHEL’s revenue from the power segment during the quarter under review increased to Rs4,636.18 crore, from 4,335.63 crore a year ago. The other industry segment revenue was Rs1,153.90 crore in the quarter compared to Rs1,271.39 crore year ago.