BHEL Q2 net profit down 10 per cent at Rs 1,274.45 cr

State-owned BHEL on Monday reported nearly 9.74 per cent decline in net profit at Rs 1,274.45 crore for the second quarter ended September 30, 2012.

The power equipment major had net profit of Rs 1,412.03 crore in the July-September quarter of last financial year.

BHEL said in a filing to stock exchanges that its income from operations in the July-September quarter grew a little over 2 per cent at Rs 11,009.28 crore, from Rs 10,758.08 crore in the same period last fiscal.

The company's orderbook stands at Rs 1.3 lakh crore.

Meanwhile, BHEL has approached the government for grant of Maharatna status , which will give them greater financial autonomy.

At present, BHEL is a Navratna PSU. Once a company gets the Maharatna tag, its board would not require government's permission for investments of up to Rs 5,000 crore in a joint venture project or wholly-owned subsidiary. For the Navratna companies, the limit is Rs 1,000 crore.