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BHEL net profit up 31% at Rs1,403 crore

State-owned power equipment maker BHEL reported 31% jump in its net profit at Rs1,403 crore for the quarter ended 31 December 2010, on the back of robust growth in sales.

The company had reported a net profit of Rs1,072 crore in the same quarter, previous financial year (2009-10), BHEL said in a filing to the Bombay Stock Exchange (BSE).

Income from operations (or sales) of the company rose 26% from Rs7,386 crore in the quarter ended 31 December 2009 to Rs9,280 crore in the quarter ended 31 December 2010.

BHEL's sales comprises power business, industry business and international operations.

The current order-book of the company stands at Rs1,58,000 crore at the end of the second quarter, the company expects to achieve robust growth in 2010-11 and beyond, the filing added.

On Friday, BHEL ended 1.75% up at Rs2,217.50 on the BSE, while the benchmark Sensex closed 0.20% down at 19,007.53 points.

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Bank of India Q3 net grows over 61% to Rs653 crore

State-owned lender Bank of India (BoI) reported 61.07% jump in its net profit at Rs653.16 crore for the third quarter ended 31 December 2010.

It had posted a net profit of Rs405.5 crore in the year-ago period.

The bank's total income rose to Rs5,115.76 crore during October-December, 2010 from Rs 5,057.83 crore in the comparable period of last year, Bank of India said in a filing to the Bombay Stock Exchange (BSE).

For the first nine months of the current fiscal, BoI's net profit grew 51.92% to Rs1,995.07 crore, from Rs1,313.16 crore in the same period last fiscal, it added.

On Friday, BoI ended 6.50% up at Rs461.5 on the BSE, while the benchmark Sensex closed 0.20% down at 19,007.53 points.

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