BHEL post net profits of Rs 2798 crore for Q4, FY11; contributes about 46% to the year’s profit

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BHEL post net profits of Rs 2798 crore for Q4, FY11
Public sector giant, Bharat Heavy Electricals Ltd announced its consolidated and standalone financial results for the quarter and year ended March 2011 on May 23, 2011.

The company posted a net profit of Rs 2798.04 crore, up by a massive 46.53% for the quarter ended March 2011 as compared to the corresponding quarter in last year. The company had reported a net profit of Rs 1909.58 crore in the same quarter previous fiscal.

The net sales increased by 32.17% to Rs 17921.43 crore against Rs 13559.10 crore in the corresponding quarter. The total expenditure went up by 26.6% to Rs 14225.34 crore compared to Rs 11236.53 crore the corresponding quarter.

The interest charges increased to Rs 30.50 crore from Rs 17.80 crore and tax expenses increased by 50.70% to Rs 1490.05 crore.

For the year ended March 31, 2011....

The company posted a consolidated net profit of Rs 6053.36 crore, up by 40% for the year ended March 2011 as compared to the corresponding year. The company had reported a net profit of Rs 4326.92 crore in the last fiscal.

On standalone basis, the company registered a growth of 39.45% in its net profit to Rs 6011.20 crore from Rs 4310.64 crore in the corresponding year. About 46% of the profits come from the fourth quarter, 2010-2011.

On standalone basis, the net sales and total expenditure followed a similar trend during the year, both increasing by 26% and 23% to Rs 41578.80 crore and Rs 34076.92 crore respectively. Taking the consolidated picture into account, net sales rose by 26% to Rs 41867.33 crore whereas the total expenditure went up by 22% to Rs 34320.31 crore compared to the corresponding year.

For the year under review, the standalone interest charges rose by 63.4% to Rs 54.73 crore whereas the tax expenses rose by 31% to Rs 2994.47 crore. The consolidated interest charges rose by 33% to Rs 48.63 crore and tax expenses increased by 31.33% to Rs 3012.32 crore respectively. On consolidated basis, power segment grew by 29% whereas industry segment reported a growth of 16% compared to the corresponding year. Though, power segment contributes about 80% of the revenues.

Meanwhile, the Board has recommended a dividend of Re 17.90 per share of Rs 10 each. An interim dividend of Rs 13.25 was paid earlier during the year. The Board has approved a divestment of 5% of the government holding in the company, which is expected to bring Rs 5000 crore for the government. It also recommended a stock split in 1:5 ratio.

Read more about: results, bhel, engineering
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