New Delhi: Bharat Heavy Electricals Ltd (BHEL), the country’s largest power equipment manufacturer, today posted a 60 per cent jump in net profit for the quarter ended September on the back of improved order flow in the power and industry segments.The company posted a net profit of Rs 185.17 crore during the second quarter ended September as compared to net profit of Rs 115.42 crore in the corresponding quarter.
“In a highly competitive and shrunken market, concerted efforts have resulted in the order booking more than doubling to Rs 9,530 crore for the first half of FY 2018-19 compared to Rs 3,618 crore in the corresponding six months of FY 2017-18. This has resulted in an outstanding order book of Rs 115,533 crore at the end of second quarter of FY 2018-19, which is 19 per cent higher than last year,"the company said in a statement.
Total income of the company also rose 12.3 per cent to Rs 6,931 crore from Rs 6,168 crore posted in the corresponding quarter last fiscal.
The improved financial numbers for the state-run power engineering giant came even as the company’s total expenses rose 3 per cent to Rs 6,660 crore during the September quarter as compared to total expenses of Rs 6,446 crore recorded in the same quarter last financial year.
BHEL’s share price at the Bombay Stock Exchange was trading at Rs 73.20 at 12:06 hours, down 3.6 per cent as compared to previous close.