Bharat Pumps earns Rs 7.26 crore as H1 profits

Allahabad, Nov 4: Bharat Pumps and Compressors Ltd (BPCL) has made a turnaround with net profit of Rs 7.26 crore for the first half of the current fiscal as against loss of Rs 14.19 crore during the same period last year.

Cumulative turnover of the company was Rs 65.37 crore, increasing 314.5 per cent as compared to Rs 15.77 crore, during the corresponding period of the previous year.

Talking to newsmen here, BPCL Managing Director A K Jain said there was value addition of Rs 28.63 crore in the current year against Rs 8.87 crore in the corresponding period of last year, an improvement of 222 per cent.

The turnover achieved in first six months is 48 per cent of the yearly target of Rs 135 crore as compared to 18.5 per cent achieved in the corresponding period of 2005-06, he added.

BPCL is engaged in manufacturing and supply of reciprocating compressors, centrifugal pumps, reciprocating pumps, high pressure industrial gas and CNG cylinder/cascades to various core sector industries.

It is a subsidiary of Bharat Yantra Nigam Ltd under Department of Heavy Industry.

During the six-month period, the company bagged orders worth Rs 54 crore, which increased its order book to Rs 137 crore.

Mr Jain said during this period, the company excelled in all functional areas and was fully geared-up to achieve a sales turnover of Rs 135 crore, a net profit of Rs 16 crore and order booking to the tune of Rs 175 crore in the current financial year.

UNI