State-run power equipment maker BHEL today reported a 62 per cent decline in its net profit to Rs 1,314 crore in the just-concluded fiscal on the back of a dip in turnover.
The company had reported a net profit of Rs 3,461 crore in fiscal 2013-14, BHEL said in a regulatory filing to the stock exchange.
The total turnover of the company during 2014-15 declined to Rs 30,806 crore from Rs 40,338 crore in the previous fiscal (2013-14).
Meanwhile, the PSU recently bagged a contract of over Rs 5,000 crore for executing a thermal power project for Telangana State Power Generation Corporation (TSGENCO).
The order envisages setting up a thermal plant at Manuguru in Khammam district of Telangana and is targeted to be commissioned in 24 months.
TSGENCO has also entered into a preliminary agreement with BHEL for construction of new thermal power plants totalling 6,000 MW in the state.
BHEL shares closed at Rs 235, up 1.38 per cent on the BSE from the previous close.
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.