Government-owned Bharat Heavy Electricals Ltd (BHEL) on Tuesday reported a more than twofold jump in consolidated net profit at Rs 135 crore for the October-December quarter of the current financial year, according to a regulatory filing by the company.

The company had posted a net profit of Rs 60.31 crore in the same quarter of FY 2023-24.

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BHEL’s revenue shot up by 32.2 per cent to Rs 7,277 crore during the third quarter from Rs 5,504 in the same period of the previous year.

The company earnings before interest, depreciation, tax and amortisation (EBIDTA) rose 40.5 per cent during the third quarter to Rs 304 crore from Rs 216 crore in the same quarter of the previous financial year.

BHEL’s order book has been growing during the current financial year.

Bharat Heavy Electricals Ltd (BHEL) and Hitachi Energy India consortium had bagged a major contract in November from the Power Grid Corporation of India for the establishment of over eight hundred 6000 MW high voltage direct current (HVDC) terminal stations at Khavda Pooling Station-2 (HVDC) and Nagpur (HVDC) for the evacuation of renewable power from the Khavda region in Gujarat to Nagpur in Maharashtra.

The scope of work includes converter transformers, AC/DC control and protection, gas insulated high-voltage switchgear, thyristor valves, 765kV/400kV substation and auxiliary systems to be delivered by Hitachi Energy India along with its consortium partner BHEL.

Earlier in July, the company secured Rs 10,000 crore order for 1600MW Damodar Valley Corp project.

In an exchange filing, BHEL said, “Bharat Heavy Electricals Limited (BHEL) has received a Letter of Intent (LOI) from Damodar Valley Corporation (DVC) for setting up the 2×800 MW Koderma Phase-II Thermal Power Station at Koderma district, Jharkhand on EPC basis.”

Under the terms of the order, BHEL will be responsible for the supply of equipment including Boiler, Turbine, Generator and associated auxiliaries along with electrical and C&I, balance of plant packages; erection & commissioning; and other civil works, the company said in a statement.