BHEL Q1FY07 net jumps 85 pc

New Delhi, July 28 (UNI) Bharat Heavy Electricals Ltd (BHEL) today posted a 85.08 per cent increase in its net profit at Rs 236.67 crore for the quarter ended June 30, 2006, as against Rs 127.87 crore for the corresponding period last year.

The company's total income increased by 36.79 per cent at Rs 2776.42 crore for Q1FY07 as compared to Rs 2029.66 crore for Q1FY06.

Bharat Heavy Electricals Limited had recently achieved its second consecutive order from Ethiopia for 230 kV substations on EPC basis from Ethiopian Electric Power Corporation (EEPCO).

The order, valued at around Rs 46 crore is funded by the Kuwait Fund.

Last year, BHEL had won a similar contract for substations, funded by the World Bank, making inroads in Ethiopia.

Moreover, it has won the contract outbidding Chinese and other multinational companies.

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