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BHEL Q3 net up 25 pc at Rs 191.95 cr, declares 40 pc interim dividend

twitter-logoPTI | February 5, 2019 | Updated 22:02 IST

(Eds: With more inputs) New Delhi, Feb 5 (PTI) State-owned engineering firm BHEL posted a 25.30 per cent jump in net profit at Rs 191.95 crore for the December quarter mainly due to higher revenues. The company's net profit in the third quarter last fiscal stood at Rs 153.19 crore, it said in a statement. According to the statement, the board has declared and approved payment of interim dividend at the rate of 40 per cent (Rs 0.80 per share) on the paid up share capital of the company for FY 2018-19. Interim dividend shall be paid/ dispatched on February 21, 2019. The company's total income rose to Rs 7,115.73 crore in the third quarter of this fiscal from Rs 6494.44 crore a year ago. In April-December, the company's net profit rose to Rs 532.69 crore, compared to Rs 349.43 crore in the same period last fiscal. The company's net profit was Rs 806.60 crore in 2017-18. The company said there was a significant increase in the total outstanding order book by 14 per cent at more than Rs 1,16,700 crore, which is the highest at the beginning of the last seven calendar years. The company has maintained 100 per cent market share in the thermal utility segment in the last two years. Talking to PTI, Atul Sobti, chairman and managing director of the company, said the company has delivered a resilient performance due to adoption of strategic initiatives like diversification into new business areas, accelerated project execution and cost control and resource optimisation measures, resulting in significant progress in enhancing profitability and productivity. The company has not only reinforced leadership in the power sector but has also strengthened its presence in non-power business areas, he added. He said that these achievements, along with the strategies in place, are strengthening BHEL's pre-eminent position among national assets and assuring its continued contribution in building a 'New India'. PTI KKS ABM

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