The public sector giant Bharat Heavy Electricals Limited (BHEL) has posted a quantum jump in profits and has recommended a final dividend of 60% during the financial year 2018 – 19. During the year, the company achieved a profit before tax (PBT) of Rs. 2,058 crore, compared to a PBT of Rs. 1,585 Crore during the year before, registering a surge of 29.8%.
A press release of the corporation released in Trichy, Tamilnadu, yesterday says that net profit for the year stands at Rs. 1,215 crores, against Rs.807 crores in the previous fiscal, resulting in a 50.7% jump. During the year, BHEL had also developed in-house the country’s first state-of-the-art regenerative braking system and delivered the first 6,000 HP electric locomotive to the Indian Railways.
The company also received its maiden order for electrification of 440 km rail route during the year. The press release also revealed that BHEL is in the process of setting up a rail-based logistics terminal at Haridwar and has plans to make Bengaluru a solar business hub.