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BHEL Sales surge 40% in the Fourth Quarter of 2008-09

New Delhi, May 29, 2009

Bharat Heavy Electricals Limited (BHEL) has accelerated the growth momentum achieved in the first three quarters of fiscal 2008-09 with a 40% rise in Sales/Income from Operations in the fourth quarter of financial year 2008-09.

BHEL ended the quarter with its Sales/Income from Operations at Rs.11134.4 Crore as against Rs.7959.9 Crore in the corresponding period in the previous fiscal. The company has also recorded significant growth in its profitability parameters in the last quarter of 2008-09, despite higher provisioning for the impending wage revision, with its Net Profit at Rs.1347.5 Crore, surging nearly 22% over Rs.1110.9 Million in the fourth quarter of the previous year.

Consequently, BHEL has recommended a final equity dividend of 80%, maintaining its track record of paying dividends uninterruptedly for over three decades without a break. With an interim dividend of 90% paid earlier, a total dividend of 170% has been declared on the enhanced equity capital post-bonus, for fiscal 2008-09.

With an order book position of nearly Rs.1,20,000 Crore at the end of the last quarter, the company expects to achieve robust growth in 2009-10 and beyond.

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