BHEL STRIKES BACK SHOWS DOUBLE DIGIT GROWTH IN TURNOVER
New Delhi, September 8: In its first quarter results for FY 2016-17, BHEL’s turnover has shown a double-digit growth of over 29% at Rs.5,721 Crore compared to the corresponding period in the previous year. The company has sprung a surprise and beaten street expectations by reversing the trend of negative topline growth prevailing for the last 14 straight quarters. Significantly, profit after tax has also shot up by more than 54% at Rs.77.8 Crore over the corresponding period in 2015-16.
Mr. Atul Sobti, the new Chairman and Managing Director of the company said that holding on to our strengths and building news ones, we are resolutely focused on achieving the immediate target of regaining growth. Attributing the reversal in the trend of negative growth to accelerated execution, he said that specific steps of expeditious execution and enhanced order booking have been initiated by the company.