Companies

Q3 results: BHEL net profit rises 25 per cent

PTI New Delhi | Updated on February 05, 2019 Published on February 05, 2019

Interim dividend shall be paid/ dispatched on February 21, 2019

Bharat Heavy Electricals Limited (BHEL) posted a 25.30 per cent jump in its net profit at Rs 191.95 crore for the quarter ended on December 31, 2018, compared to the year-ago period.

The state-run engineering firm’s net profit in the third quarter last fiscal was Rs 153.19 crore, a company statement said.

According to statement, the board has declared and approved payment of interim dividend at the rate of 40 per cent (Rs 0.80 per share) on the paid up share capital of the company for FY 2018-19. Interim dividend shall be paid/ dispatched on February 21, 2019.

Atul Sobti, Chairman and Managing Director (MD) of the company, said that the company has delivered a resilient performance due to adoption of strategic initiatives like diversification into new business areas, accelerated project execution and cost control and resource optimisation measures, resulting in significant progress in enhancing profitability and productivity.

The company has not only reinforced leadership in the power sector, but has also strengthened its presence in its non-power business areas, he added.

He said that these achievements, along with the strategies in place, are strengthening BHEL’s pre-eminent position among national assets and assuring its continued contribution in building a ‘New India’.

Published on February 05, 2019
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