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As pvt cos fault govt for ills, Bhel-east raises profit 92%

The eastern region of the heavy engineering major Bharat Heavy Electricals Ltd (Bhel) has reported a 92 per cent jump in profit before tax to Rs 259.63 crore for 2012-13.

'The PBT of the eastern region which is also termed as Power Sector Eastern Region (PSER), registered a rise of 92 per cent to Rs 259.63 crore while, the topline expanded by six per cent to Rs 2,929.92 crore,' Bhel Eastern region executive director M Rajiv Kumar said.

In contrast, the turnover of Bhel for fiscal 2012-13 inched up by just one per cent to Rs 50,015 crore and PBT declined by 11 per cent to Rs 9,231 crore.

Kumar in a briefing on Thursday had said, 'recognising the unique capability for executing large scale projects by PSER, Bhel has entrusted us to execute the 2x660MW thermal power plant for Rajasthan Rajya Vidyut Utpadan Nigam Ltd in Rajasthan.'

'This order is beyond our usual territory of eastern region and we are confident to execute the order well within the timeline,' Kumar said. Kumar who heads PSER, said the dues for his region will be just between Rs 600 crore and Rs 650 crore out of some Rs 20,000 crore total unpaid outstanding of the company. Bhel's PSER added 1,903 MW capacity during the year under review due to slowdown in the power sector.

Bouyant with healthy order book of Rs 7,589 crore Bhel PSER aims to post a turnover of Rs 3,250 crore and PBT will surpass Rs 300 crore.

'We hope to add more than 3,000 MW in current fiscal including commissioning of the first super critical power plant of 660MW at Barh in Bihar,' Kumar said.


NEW CONTRACTS FOR 14K MW LINED UP


Diversified major Bharat Heavy Electricals Ltd (Bhel) said on Friday that project orders involving the setting up of 14,000 mw are already lined up for the company during the current fiscal.

'We hope the worst is over. Contracts for power projects worth 14,000 MW is already lined up,' Bhel Eastern Region Executive Director M Rajiv Kumar said.

Asked about competition from Chinese companies for these contracts, Kumar said, 'In the past, Bhel had been able to secure 65 per cent of the private contracts and in future too we will remain competitive.'

Bharat Heavy Electricals Ltd is also working on the technology to enable power plants to switch between imported coal and domestic coal to get an edge over competitors.

'Bhel is working on this technology after receiving such requests from customers. There will not be a major investment for the same, explained Kumar.

The company's Eastern Region executive director  said that some of the projects that have been put on hold either by Bhel or by power companies due to financial constraints are expected to be back on track as the government is trying to work out a solution.

Expressing  confidence, M Rajiv Kumar said that in the current financial year (2013-14), there will be a revival in private power project orders.

In the just concluded fiscal (2012-13), Bhel secured order worth Rs 31,528 crore of which Rs 2,924 crore was from the eastern sector.
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