New Delhi, Apr 3: Electrical major BHEL notched up its highest-ever turnover of Rs 21,608 crore, and earned a gross profit of Rs 4,395 crore during 2007-08, moving past the Rs 4,000 crore mark for the first time, its CMD K Ravi Kumar announced today. ''But the last quarter profit declined because of 40 per cent set aside for payment of higher wages, and some portion for contractual obligations and increase in raw material prices such as that of steel,'' Mr Kumar told mediapersons during the Company's annual press conference.
While the gross profit surged 18 per cent, the net profit rose 17 per cent at Rs 2,815 crore against Rs 2,415 crore in the previous year, he said. The year also saw the highest-ever order booking at Rs 50.265 crore, from domestic and overseas markets. At the end of the year, outstanding orders in hand for execution in 2008-09 and beyond stood at about Rs 85,000 crore-- the highest ever in physical as well as financial terms.
In international business, BHEL achieved a physical export order inflow of Rs 2,311 crore. ''We are sure of achieving the 11th Plan target, and plans to be a Rs 45,000 crore turnover company by 2011-12,'' he said.