Comments
Boosted by higher sales and a change in the accounting methodology, state-owned equipment firm Bharat Heavy Electricals Ltd (BHEL), reported a 31 per cent jump in its net profit at Rs 1,403 crore for the quarter ended December 31, 2010. The company's net sales for the third quarter grew 25 per cent to Rs 8,849 crore, up from Rs 7,100 crore reported in the corresponding quarter a year ago. A change in the accounting method has led to an increase in sales of Rs 444 crore during the latest reported quarter, with a corresponding impact on profits.
BHEL, whose segment-wise sales span the power business, industry business and international operations, has reported an order book position of Rs 1,58,000 crore at the end of the third quarter. The company expects to achieve robust growth in 2010-11 and beyond, it said in a statement. BHEL shares ended up 1.75 per cent at Rs 2,217.50 on the BSE, on Friday. The 52-week high for the stock was Rs 2,695, while the corresponding low was Rs 2,060.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.