BHEL reports growth in profitability
Bharat Heavy Electricals Limited (BHEL) has reported a growth in profitability and it is continuing the momentum. For the standalone first quarter of FY 2017-18, the company reported a turnover of Rs 5,607 crore almost similar to the corresponding figure of the last year, and a profit before tax (PAT) of Rs 108 crore, registering a significant growth of 12 per cent, against the corresponding quarter in the year before. Significantly, at its meeting held on August 10, 2017, the Board of Directors of the company has recommended the issue of bonus shares in the ratio of 1 bonus share of Rs 2 against 2 existing equity shares of Rs 2, subject to approval of shareholders.
State-run power equipment maker BHEL has posted a 3.92 per cent jump in standalone net profit to Rs 80.82 crore for the quarter ended June 30, 2017. The company had reported a standalone net profit of Rs 77.77 crore for the quarter ended June 30, 2016, BHEL said in a BSE filing. Overall income rose to Rs 6,194.21 crore for the quarter ended June, from Rs 6,070.21 crore in the year-ago period. The company has an outstanding order book position of Rs 1, 01,380 crore at the end of third quarter of this fiscal.
Maintaining the growth momentum has been made possible by a slew of strategic initiatives and cost optimisation measures put in place by the management. Atul Sobti, CMD of the company said that the company is enhancing its focus on diversifying in the non-thermal power segment and other new areas, while maintaining its leadership status in the power sector.
The company is enhancing its focus on diversifying in the non-thermal power segment and other new areas, while maintaining its leadership status in the power sector.