BHEL Q1 net profit up 33 per cent

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State-run power equipment maker Bharat Heavy Electricals has reported a net profit of Rs 384.41 crore for the first quarter ended June 30, 2008, a rise of 33 per cent compared to the same period a year ago.

It had registered a net profit of Rs 288.91 crore for the year-ago period.

The company's income rose 31.77 per cent to Rs 4,703.55 crore from Rs 3,569.56 crore in the same period last year, a company statement has said.

The company consumed raw materials worth Rs 25,179 crore during the period, compared to Rs 19,008 crore in the same period last year.

BHEL at present has an order book of 95,000 crore that including many contracts from abroad.

It had recently bagged its first turnkey contract from Syria worth Rs 2,080 crore to develop 400 MW thermal power project in the country.

The order has been placed by Public Establishment of Electricity for Generation and Transmission (PEEGT), Ministry of Electricity, Syria.

BHEL also received a Rs 160 crore order for supply of two gas turbine generating units from United Arab Emirates.

The company bagged an export contract for suppling two gas turbine generating units of 42 MW each from UAE based firm, International Energy Resources(IER).

The two units are planned to be used in different locations for the Mobile Power Plants.

The company has so far set up 14 power projects in the Middle East apart from sub-stations and supply of equipment for the power and oil & gas sectors.