BHEL continues growth momentum; Achieves 42 per cent jump in bottomline in the first quarter of 2010-11; Cumulative orderbook at record Rs.1,480,000 Million

Bharat Heavy Electricals Limited (BHEL) has maintained its growth momentum in the first quarter of fiscal 2010-11, with a quantum jump of nearly 42% in its Net Profit (PAT) at Rs.6677 Million, compared to Rs.4706 Million in the corresponding period in the year before.

The company has also recorded a topline growth of around 17% with its Sales/Income from Operations at Rs. 67,612 Million, as against Rs.57,996 Million of last year. Profit Before Tax (PBT) for the quarter stood at Rs.9,978 Million compared to Rs.7,187 Million in the same period in the previous year, an increase of nearly 38%. With this, BHEL has maintained its track record of earning profits uninterruptedly for nearly four decades without a break.

With a highest-ever order book position of over Rs.1,480,000 Million, at the end of the first quarter, the company expects to achieve robust growth in 2010-11 and beyond.

Notably, BHEL has recently been conferred the maximum number of ‘ICWAI National Awards for Excellence in Cost Management’, among public and private sector companies. Significantly, the company has won seven of these prestigious awards for 2009.

BHEL has been committed to the nation’s power development programme and has reaffirmed its commitment to the Indian Power Sector by equipping itself for the future, by way of contemporary technology, state-of-the-art manufacturing facilities and skilled technical manpower to meet the country’s power forecast in the future. The company has established the capability to deliver 15,000 MW per annum and further augmentation to 20,000 MW per annum is underway.