BHPV turnover jumps 56% at Rs 244 crore in FY13

VISAKHAPATNAM: Bharat Heavy Plates and Vessels Ltd, a wholly-owned subsidiary of Bharat Heavy Electricals Ltd, has registered a 56 per cent jump in turnover at Rs 243.52 crore in fiscal 2012-13.

" BHPV has achieved a turnover of Rs 243.62 crore in financial year 2012-2013 against Rs 155.80 crore in previous fiscal," a company statement said here today.

BHPV Executive Director C P Chengappa said it was for the first time in the last 10 years that the turnover crossed the Rs 200-crore mark.

"There has been a sharp increase of 56.36 per cent in the turnover than the last financial year. The Profit After Tax ( PAT) for year 2012-13 stood at Rs 23.90 crore gainst Rs 10.44 crore in FY12," he said.

" FY13 was the third consecutive year that BHPV achieved profit after it was taken over by BHEL. This excellent performance will pave the way for the much-awaited merger with BHEL which was on the anvil," Chengappa said.