BHEL reports third straight quarter of growth and profitability

Sarkaritel
By Sarkaritel February 7, 2017 15:14

BHEL reports third straight quarter of growth and profitability

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New Delhi, February 7: Maintaining the positive trend of healthy growth achieved in FY 2016-17, Bharat Heavy Electricals Limited (BHEL) has reported the third straight quarter of growth in the current fiscal. In the first nine months of the fiscal, the company saw its turnover grow by 19% to Rs.18,966 Crore, and posted a profit before tax of Rs.359 Crore against a loss of Rs.1903 Crore in the corresponding nine-month period in the previous year.

Significantly, this consistent growth in the first three quarters of FY 2016-17 comes in the wake of the trend of negative topline growth prevailing for the last 14 previous quarters.

For the standalone third quarter of FY 2016-17, the company reported a turnover of Rs.6465 Crore, registering a growth of 19%, and a profit before tax of Rs.125 Crore, against a loss of Rs.1672 Crore in the corresponding quarter in the year before.

This has been made possible by a slew of strategic initiatives and cost optimisation measures put in place by the management. Mr. Atul Sobti, Chairman and Managing Director of the company said that, having achieved the immediate target of regaining growth, the company was now enhancing its focus on maintaining its leadership status in the power sector while diversifying in the non-thermal power segment and other new areas.

Sarkaritel
By Sarkaritel February 7, 2017 15:14