BHEL subsidiary BHPV posts 16 rise in turnover in FY12

VISAKHAPATNAM: Bharat Heavy Plates and Vessels Ltd (BHPV), a subsidiary of state-run power equipment maker BHEL, has recorded a turnover of Rs 158.35 crore during 2011-12, an increase of 15.6 per cent over Rs 136.97 crore posted during the last fiscal.

The profit after tax (PAT) was Rs 9.03 crore as against Rs 8.77 crore during 2010-11, BHPV Managing Director A S Nagaraja said in a statement here.

The Rs 235-crore modernisation scheme at BHPV, funded by BHEL, was firmly on track and this would help in achieving sustained growth and profitability in the years to come, he said.