BHEL Q3 net up 64% at Rs 153 cr; declares 40% dividend

State-run power equipment maker BHEL posted a 64 per cent jump in its standalone net profit to Rs 153.19 crore for the third quarter ended December 31. The company’s standalone net profit was Rs 93.54 crore in the same quarter last fiscal, BHEL said in a statement. Besides approving the financial results of the company for the quarter and nine months ended December 2017, the board of directors also approved payment of interim dividend at the rate of 40 per cent (Rs 0.80 per share) for 2017-18. The interim dividend will be paid/ dispatched on February 28, it added. The turnover for the third quarter stands at Rs 6,494.44 crore, as compared to Rs 6,187.48 crore recorded in the corresponding period of the previous fiscal. During April-December in 2017-18, the company reported a standalone net profit of Rs 349.43 crore as against Rs 280.31 crore in the same period a year ago. In the first nine months of this fiscal, its turnover was Rs 18,017.62 crore (net of excise duty) compared to Rs 18,261.01 crore in the year-ago period. “Prudent strategies of fast execution and resource optimisation measures, concerted efforts for revival of stranded projects, have begun reflecting in the results,” BHEL Chairman and Managing Director Atul Sobti told PTI. He further said the next wave of growth will be engineered with a focus on enhancing the order book in the diversified as well as conventional areas.