Bhel Q1 net profit nearly doubles to over Rs 155 cr

New Delhi: Power equipment maker BHEL on Wednesday posted about 93 per cent jump in standalone net profit to Rs 155.58 crore in the first quarter of current fiscal on higher revenues.

Its net profit was Rs 80.82 crore in the April-June quarter of last fiscal, 2017-18, the company said in BSE filing.

BHEL's total income in the first quarter of 2018-19 rose to Rs 6,114.10 crore, as against Rs 5,980.77 crore a year ago.

It recorded a turnover of Rs 5,790 crore, as against Rs 5,355 crore, an increase of over 8 per cent.

"Concerted efforts resulted in order book to increase by two-and-a-half times to Rs 4,371 crore, compared to Rs 1,744 Crore 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 117,000 Crore, at the end of the first quarter of the current fiscal," he said.

BHEL's revenue from the power segment during the quarter under review increased to Rs 4,636.18 crore, from 4,335.63 crore a year ago.

The other industry segment revenue was Rs 1,153.90 crore in the quarter compared to Rs 1,271.39 crore year ago.