Odisha News In English

Prameya English, Prameyanews.com, Odisha Latest News, Odisha News Online

star kirano
ratha jatra live
star kirano
ratha jatra live
previous arrow
next arrow

BHEL posts profit in FY 21-22 after two years of losses 

23/05/2022 at 7:15 PM

New Delhi, May 23: Bharat Heavy Electricals Limited (BHEL) has bounced back into the black in fiscal 2021-22 despite the 2nd wave of COVID impacting first quarter operations severely.

Due to a strong focus on speeding up execution, cost control, prudent resource management, and improving service and quality standards, the company has not only achieved break-even in FY 21-22 but has also strengthened its balance sheet.

While revenue from operations surged 24% to Rs.21,211 crore, against Rs.17,308 crore in the previous year, the company achieved a Profit Before Tax of Rs.437 crore against a loss of Rs.3,612 crore in the year before.

Overall, the company achieved an EBIDTA of Rs.1,100 crore. This has been achieved despite tremendous pressure on margins due to a sharp spike in metal prices and increase in other material and fuel costs.

Profit After Tax stands at Rs.410 Crore against a loss of Rs.2,717 crore in the previous year.

Notably, the company has declared a dividend of 20% for FY 2021-22, after a span of 3 years. This performance is a result of a shift in focus towards project centric operations over the last couple of years, with the company achieving the highest level of execution at project sites (in the past 5 years) as well as the highest ever project closures.

This has also resulted in a cash surplus of Rs.660 crore from operation activities.

   Related Posts