BHEL third quarter net jumps 36 per cent to Rs1,072 crore

Power equipment maker Bharat Heavy Electricals Ltd (BHEL) today reported a 35.67 per cent jump in its fiscal third quarter (October-December 2009-10) net profit at Rs1,072.6 crore, compared with Rs790.6 crore in the corresponding quarter of the previous fiscal.

The company's board of directors has declared an interim dividend of Rs11 per share.

For the nine months ended 31 December 2009, the company reported net income of Rs2,401.1 crore against Rs1,790.7 crore in the similar quarter of the previous fiscal.

The company's total income rose to Rs7,422.5 crore during the December quarter, compared with Rs6,328.5 crore in the comparable period of the previous fiscal, BHEL said in a filing with the Bombay Stock Exchange (BSE).

The company also reported an outstanding order book position of about Rs1,34,000 crore, at the end of the third quarter.

BHEL expects its gross margin to rise to Rs6,427 crore on a turnover of Rs31,000 crore as of 31 March 2010. BHEL has stretched the turnover target further to Rs32,000 crore under 'Excellent' rating.

BHEL is the country's largest engineering and manufacturing enterprise in the energy-related/infrastructure sector. The company has been earning profits continuously since 1971-72 and paying dividends since 1976-77.

BHEL is also focusing on several dynamic parameters - both sector specific and enterprise specific - covering areas such as improvement in customer satisfaction index, human resource management, employees satisfaction survey, timely completion of projects under modernisation and expansion, achievement of delivery index of on time deliveries in customer projects, engineering and R&D, globalisation through entry into new market segment, corporate social responsibilities and environmental improvement projects, a company release said.