BHEL posts 6 per cent higher profit at Rs 3,039 cr in FY 2009

BHEL on Thursday announced a six per cent increase in net profit at Rs 3,039 crore, after setting aside about Rs 1,800 crore to be paid to employees for revised salary, in 2008-09.

The company had recorded a net profit of Rs 2,859 crore in FY 2007-08.

"We have made provisions to the tune of Rs 1,800 crore for the PSU pay revision in our annual profit," CMD BHEL K Ravi Kumar told reporters here.

The company recorded a turnover of Rs 27,505 crore in the last fiscal compared to Rs 21,401 crore in 2007-08.

BHEL obtained a record order inflow of Rs 59,687 crore during the year and its cumulative order-book stood at Rs 1,17,000 crore, which included contracts from state governments, NTPC, private power project developers and foreign firms.

From the power sector, BHEL secured orders worth Rs 44,407 crore for 17,020 MW of plants.

BHEL also secured orders worth Rs 10,254 crore in fiscal 2008-09 in captive power, transportation, power transmission, oil and gas and other industrial segments.

On Monday the Cabinet had approved a proposal to merge 78.2 per cent of dearness-allowance (DA) with basic pay of the employees of the central public sector units, against the 68.8 per cent DA merger announced in November 2008.

The company received bulk order for 40 transformers from Coastal Gujarat Power, a Tata Power special purpose vehicle, for executing the 4,000-MW ultra mega power project at Mundra.

BHEL's international business grew 41 per cent to Rs 3,265 crore over that of fiscal 2007-08.

The company which made a capital investment of Rs 1,106 crore during 2008-09 towards augmentation of production capacity and construction of equipment facilities at power project sites, would spend another Rs 1,000 crore for expanding its Haridwar facility.

"For the expansion of the Haridwar unit, we would invest Rs 1,000 crore... This kind of money is required when you want to develop nuclear plant equipment also," Mr. Kumar said.

BHEL recruited nearly 4,500 persons in the previous financial year and would hire a substantial amount in this fiscal as well.

The company plans to achieve Rs 45,000-crore turnover by 2011-12.

ref:
http://www.hindu.com/thehindu/holnus/006200904021851.htm