BHEL has posted about 93 per cent jump in standalone net profit at Rs 155.58 crore in the first quarter of the current fiscal on higher revenues. The net profit stood at Rs 80.82 crore in the April-June quarter of last fiscal, the power equipment maker said in a BSE filing.
Total income in the first quarter of 2018-19 rose to Rs 6,114.10 crore from Rs 5,980.77 crore a year ago. The company recorded a turnover of Rs 5,790 crore against Rs 5,355 crore, an increase of over 8 per cent.
“Concerted efforts resulted in increase in order book by two-and-a-half times to Rs 4,371 crore compared with Rs 1,744 crore in the corresponding quarter last year,” BHEL Chairman and Managing Director Atul Sobti told PTI.
He said this has been made possible through prudent strategies of accelerated execution, cost control and resource optimisation 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.
“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 Rs 117,000 crore, at the end of the first quarter of the current fiscal,” Sobti said.
BHEL’s revenue from the power segment during the quarter under review increased to Rs 4,636.18 crore from 4,335.63 crore a year ago. The other industry segment revenue stood at Rs 1,153.90 crore during the quarter compared with Rs 1,271.39 crore a year ago.