Country’s largest power equipment manufacturer Bharat Heavy Electricals Ltd has posted a 39% jump in net profit for the quarter ended September on the back of lower raw material costs.

The company posted a net profit of INR 857.9 crore in the quarter as compared to INR 615.7 crore in the corresponding quarter last year. Its total income in the quarter increased by 22% to INR 6,923 crore as compared to the corresponding period last year.

Mr B P Rao CMD of BHEL said that “The increased profit is mainly attributed to the lower material costs.”

(Sourced from Business Standards)