Accelerating its growth momentum, Bharat Heavy Electricals Limited (BHEL) has reported a surge in profitability in the third quarter of FY1017-18.
The company has registered a quantum jump of 64 % in its net profit at Rs.153 Crore, over the corresponding quarter in the previous fiscal.
Significantly, BHEL has also declared an interim dividend of 40% on the enhanced equity following a bonus issue earlier in the year.
The turnover for the third quarter stands at Rs.6,494 Crore, compared to Rs.6,187 Crore recorded during the corresponding period last year.
For the nine-month period of FY 2017-18, the company has recorded a Profit After Tax (PAT) of Rs.349 Crore and a turnover of Rs.18,018 Crore (net of excise duty).
Mr. Atul Sobti, Chairman and Managing Director of the company said that prudent strategies of fast execution and resource optimization measures, concerted efforts for revival of stranded projects, have begun reflecting in the results.
The next wave of growth will be engineered with a focus on enhancing the order book in the diversified as well as conventional areas, he added.