BHEL profit soars 37 per cent to Rs4,287 crore in FY10

State-run power equipment maker Bharat Heavy Electricals Ltd (BHEL) expects a 36.6 per cent jump in gross profit at Rs4,287 crore (about $955 million) during the financial year ended 31 March 2010.

BHEL's fiscal fourth quarter profit was up 39.96 per cent year-on-year at Rs1,886 crore against Rs1,347.5 crore in the previous fiscal, according to provisional figures released by the company.

Net sales for the quarter increased 39.74 per cent to Rs14,729 crore from Rs10,540.1 crore.

BHEL received orders worth Rs59,031 crore in FY10 as against a guidance of Rs55,000 crore.

Incidentally, in March, this year alone, BHEL won a turnkey contract for setting up a 376 MW energy-efficient and environment-friendly captive power plant at the upcoming Paradip Refinery Project of Indian Oil Corporation Limited (IOCL) in Orissa.

Valued at Rs3,348 crore, this is the largest-value single order secured by BHEL for a captive power plant.