New Delhi, Jul 25: Power equipment maker BHEL on Wednesday posted about 93 per cent jump in standalone net profit to Rs 1.55 billion in the first quarter of the current financial year on higher revenues.
Its net profit was Rs 808.2 million in the April-June quarter of last financial year, 2017-18, the company said in BSE filing.
BHEL’s total income in the first quarter of 2018-19 rose to Rs 61.1 billion, as against Rs 59.80 billion a year ago.
It recorded a turnover of Rs 57.9 billion, as against Rs 53.55 billion, an increase of over 8 per cent.
“Concerted efforts resulted in the order book to increase by two-and-a-half times to Rs 43.71 billion, compared to Rs 17.44 billion in the corresponding quarter last year,” BHEL Chairman and Managing Director Atul Sobti said.
He said this has been made possible through prudent strategies of accelerated execution, cost control and resource optimization measures.
The next wave of growth is being engineered with a focus on enhancing the order book in diversified as well as conventional areas, coupled with efforts to further enhance the executable order book, he added.
“Prudent strategies of garnering a higher market share in a shrunken and highly competitive business environment have also paid rich dividends and BHEL has a total order book of around Rs 1.17 trillion, at the end of the first quarter of the current financial year,” he said.
BHEL’s revenue from the power segment during the quarter under review increased to Rs 46.36 billion, from 43.35 billion a year ago.
The other industry segment revenue was Rs 11.53 billion in the quarter compared to Rs 12.71 billion year ago.