The Hindu Business Line : BHEL net up 42% at Rs 635.5 cr

BHARAT Heavy Electricals Limited (BHEL) has registered a 42.9 per cent jump in its net profit during fiscal 2003-04 as compared to the previous year. The company's net profit for the year ended March 2004 jumped to Rs 635.50 crore from the profit of Rs 444.51 crore achieved during fiscal 2002-03. The net profit during the last quarter ended March 2004 also increased by 35.91 per cent to Rs 412.54 crore as compared to the Rs 303.55 crore profit clocked in the same quarter in the previous year, according to a BHEL statement released here.

The company's working results reflect a marginal improvement over the earlier projection of an expected net profit of Rs 615 crore for the year.

Total sales during 2003-04 stood at Rs 8,844.46 crore as against the sales worth Rs 7,715.61 crore achieved in fiscal 2002-03. The earnings per share (EPS) for fiscal 2003-04 works out to be substantially higher at Rs 25.96 as compared to Rs 18.16 at the end of fiscal 2002-03.

The company, the statement said, has a healthy order book position with standing orders amounting to Rs 234.50 crore at the end of March this year. The company has also made provisions for post- retirement benefits amounting to Rs 76 crore based on revised structural valuations during the year, the company statement said.