State-run power equipment maker BHEL on Monday reported a 62 per cent fall in its net profit to Rs 1,314 crore in the just-concluded fiscal on the back of dip in turnover.
The company had reported a net profit of Rs 3,461 crore in the fiscal 2013-14, BHEL said in a regulatory filing to the stock exchange.
Total turnover of the company during 2014-15 declined to Rs 30,806 crore from Rs 40,338 crore in the previous fiscal (2013-14). Meanwhile, recently the PSU bagged a contract of over Rs 5,000 crore for executing a thermal power project for the Telangana
State Power Generation Corporation (TSGENCO).
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. The BHEL stock closed at Rs 235, up 1.38 per cent on the BSE.
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