Bhopal: Bhopal unit of Bharat Heavy Electricals Limited (BHEL) has registered a profit of Rs 648 crore for the financial year 2010-11. The company has recorded 7 percent growth in the profit. It has achieved a production of Rs 4,202 cr surpassing previous year's turnover of Rs 3,708 cr.

The production in comparison to the last year is up by Rs 494 crore for the current financial year. The unit has set a production target of Rs 5010 crore for the year 2011-2012.  

Executive Director, MK Dube on Tuesday said, “The unit has allocated an amount of Rs 104 crore for research and development along with technology upgrade, therefore the company could secure 42 patents so far.” 

The unit, which registered the production of Rs 2300 crore by December, has been able to achieve its goal only after amendment in the target, Dube added.

The corporate office had reduced the production target to Rs 4005 crore from Rs 4650 crore on account of less orders, which had directly affected the profit of the company. The Bhopal unit could register a 13 pc growth in profit while all other units of the company registered 40 percent growth, he said.

Further, Dube informed that the company has spent nearly Rs 4 crore this fiscal to change the shabby condition of the roads in townships.

JPN/Bureau