Bharat Heavy Electrical Ltd (BHEL) posted a net profit of Rs 1,403 crore for the third quarter eneded Decemebr 2010, up 30.87 per cent from the previous year's quarter profit at Rs 1,072 crore.
The net sales of the company for the third quarter grew 24.63% at Rs 8,849 crore from Rs 7,100 crore for the same quarter a year ago.
The change in accounting method has led to an increase in sales of Rs 444 crore.
At 12:29 pm, the shares of BHEL were trading up 3.06 per cent at Rs 2,246 on the Bombay Stock Exchange.