BHEL Bhopal’s profit up by 21 percent

BHOPAL - Bharat Heavy Electricals Limited (BHEL) Bhopal has achieved a turnover of Rs.3,708 crore in fiscal 2009-2010 as against Rs.3,308 crore in the previous year, registering an increase of 12 percent, said an official Saturday.

Executive Director M.K. Dube told media persons that the unit also earned an amount of Rs.602 crore as profit before tax, which is 21 percent more than the previous year’s profit of Rs.498 crore.

“And the growth momentum of the unit did not stop here only,” said Dube, adding that in exports too, the company registered a record 60 percent growth over the previous year contributing Rs.966 crore to the turnover. Last year, the turnover was Rs.605 crore.

Declaring Rs.4,650 crore target for the financial year 2010-11, Dube said it is a challenging task in the present global economic scenario, but “with a dedicated and committed team of about 7,650 employees, we can do wonders”.

The capital investment of the unit increased to Rs.166 crore against Rs.118 crore during the previous year.

Dube said that BHEL faced no threat from its Chinese counterparts as “the quality of products made in India was much superior to that of China and this fact has been demonstrated many times all over the world”.