Public sector Bharat Heavy Electricals Ltd on Tuesday revised upwards its net profit for fiscal 2003-04 at Rs 635.50 crore (Rs 6.35 billion) as against Rs 444.51 crore (Rs 4.44 billion) in the previous fiscal.
The state-owned engineering major clocked a 42.97 per cent growth in net profit based on the revised figures, the company said.
The company had earlier announced a 38 per cent spurt in net profits during the year at Rs 615 crore (Rs 6.15 billion) on the back of rising order book position and improved turnover.
Its net sales for the year increased by 14.63 per cent at Rs 8,844.46 crore (Rs 88.44 billion) against Rs 7,715.61 crore (Rs 77.16 billion) in 2002-03.
BHEL's net profit for the quarter ending March 31, 2004 increased by 35.91 per cent at Rs 412.54 crore (Rs 4.12 billion) against Rs 303.55 crore (Rs 3.03 billion) in the same period last year.
The company's net income during the quarter rose by 13.38 per cent to Rs 3,980.82 crore (Rs 39.81 billion) from Rs 3,510.94 crore (Rs 35.11 billion) in the year-ago period.