BHEL Q2 net up 5.9%

New Delhi: Bharat Heavy Electricals Limited ( BHEL) posted a 5.9 per cent growth in its net profit for the second quarter at Rs 115 crore, as against a net profit of Rs 109 crore in the corresponding quarter in the previous year.

The company recorded a turnover for the second quarter of Rs 6,168 crore, an official statement said.

"The growth in profitability has been made possible despite the provisions made for the increase in wages due to the impending wage revision.
The management has adopted multiple cost optimisation measures which are reflecting in these results. The turnover for the quarter has been maintained despite delays in taking-off of some held up projects," it said.

With the power sector’s biggest order, the 4,000 mw Yadadri thermal power station worth Rs 20,400 crore taking-off, the company posted a jump in the value of orders under execution, it said.