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BHEL provisional profit touches $363.8M
By agencies
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Monday, 03 April 2006, 19:30 IST
NEW DELHI: Bharat Heavy Electricals Ltd (BHEL), electrical power equipment maker, reported that its provisional profit had surged by 70 percent during the current financial year.
Surged by a strong order book and soaring demand for the year to March 2006, profits were estimated at $363.8 million, according to the companys statement.
The company said, it had recorded its highest ever yearly turnover of $3.27 billion, up 39 percent from last year's $2.34 billion. BHEL had orders worth $8.52 billion for execution in the current year and beyond.
"BHEL recorded the highest ever export orders of $0.76 billion -- a six fold increase over last year," the statement added.
BHEL, described as a "navratna" or a crown jewel by the government, was taken off an official list of state firms to be privatized after persistent opposition from the administration's communist allies and trade unions.