Bhel expects to post lower profit

Bhel expects to post lower profit

NEW DELHI, FEB 11: Apprehensive of increasing competition in the market, Bharat Heavy Electricals Ltd (Bhel) has projected a lower profit for the next fiscal. The public sector company also intends to enter into new markets like advanced glass gas turbines.

According to sources at the ministry of heavy industries & public enterprises, the administrative ministry for Bhel, the company expects to post a profit of Rs 325 crore for 2001-02. This is about 30 per cent lower than Rs 482 crore, the expected profit for this fiscal. In fact, the expected profit for this fiscal is more than the budgetary estimate of Rs 453 crore. In 1999-2000, profit was Rs 599 crore, up from Rs 545 crore in 1998-99.