New Delhi, April 3: Bharat Heavy Electricals Ltd (Bhel) has registered more than 50 per cent drop in its net profit at Rs 296 crore during the past financial year as against Rs 599.4 crore net profit during 99-00.Declaring the provisional financial results for 2000-01, Bhel CMD KG Ramachandran said the company's turnover fell to Rs 6,739 crore as compared to Rs 6,770 crore recorded in the previous year.
Mr Ramachandran attributed the fall in profits to outgo of Rs 753 crore on account of implementation of new wages and outgo on voluntary retirement scheme (VRS).
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
