BHEL net profit plunges 62% to Rs 1,314 crore in FY15

Total turnover declines to Rs 30,806 cr from Rs 40,338 cr in 2013-14

State-run power equipment maker Bharat Heavy Electricals (BHEL) on Monday reported a 62 per cent decline in net profit to Rs 1,314 crore in the just-concluded financial year, on the back of a dip in turnover.

The company had reported a net profit of Rs 3,461 crore in 2013-14, it said in a regulatory filing to the BSE.

Total turnover during 2014-15 declined to Rs 30,806 crore from Rs 40,338 crore in 2013-14.

Recently, the public sector undertaking bagged a contract of over Rs 5,000 crore for executing a thermal power project for the Telangana State Power Generation Corporation. The order envisages setting up a thermal plant at Manuguru in Khammam district of Telangana and is targeted to be commissioned in 24 months.

TSGENCO has also entered into a preliminary agreement with BHEL for construction of new thermal power plants totalling 6,000 MW in the state.

BHEL shares closed at Rs 235, up 1.38 per cent on the BSE from the previous close.