On Friday, Bhel, the Public sector power equipment supplier Bhel reported that in the first quarter of the current fiscal its net profit was forty two percent higher than the corresponding quarter of the last year. During that period of time, its total income grew by seventeen per cent.

Bharat Heavy Electricals Limited (BHEL) has bagged a contract for setting up a 1,200 MW thermal power plant (2x600 MW) in Chhattisgarh.

This order placed by Dainik Bhaskar Power Limited (DBPL), an Independent Power Producer (IPP), is worth Rs26.65 billion for supplying and installing the main plant package for their upcoming coal-based thermal power project, located at Baradarha in Janjgir district of Chhattisgarh.

Reports claim that Government's Navratna, BHEL has witnessed a 42% jump in the net profit for the fourth quarter.

As per the figures, the state-run power equipment maker BHEL reported an audited net profit to the tune of Rs 1,909.58 for the fourth quarter that ended on March, 2010.

The figures for last year in the corresponding period stood at Rs. 1,347.47 crore.