BHEL net profits jump 42 pc at Rs 667.7 cr this fiscal

NEW DELHI: State-run power equipment company BHEL today reported 42 per cent jump in its net profits for the quarter ended June 30, at Rs 667.7 crore from Rs 470.6 crore in the same period last fiscal. (Watch

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Net sales or income from operations of the company rose 15.8 per cent to Rs 6,479.7 crore from Rs 5,595.7 crore in the corresponding period, last fiscal, a company statement said.

BHEL has an outstanding order book position of Rs 1,48,000 crore at the end of the first quarter of the current fiscal.

The company recently secured a Rs 2,665 crore contract from Dainik Bhaskar Power Limited (DBPL), for supplying and installing boilers, turbines and generators for their upcoming 1,200 MW thermal power project at Baradarha in Chhattisgarh.

BHEL's scope of work in the contract includes design, engineering, manufacture, supply, erection, testing and commissioning of the equipment along with other associated auxiliaries.

Independent power producers (IPPs) accounted for nearly 90 per cent of the total orders received by BHEL in the last financial year.

Of the total orders of 16,489 MW power plant equipment received by BHEL during the year, those from IPPs alone accounted for 14,689 MW.

The company currently manufactures equipment that can generate 15,000 MW of electricity and its augmentation to 20,000 MW per annum is underway.