New Delhi State- owned Bharat Heavy Electricals Ltd ( BHEL) Friday reported 2 percent increase in net profit at Rs. 1,432.6 crore for the quarter ended Dec 31 against Rs. 1,403 crore for the like period of the previous financial year.

The total income stood at Rs. 10,939 crore during the quarter under review up 19 percent as compared to Rs. 9,176 crore in the year ago period, the company said in a regulatory filing.

During the quarter under review, the companys staff cost declined to Rs. 1,337.68 crore from Rs 1,348.66 crore in the like period a year ago.

At the Bombay Stock Exchange the shares of the company closed 2.84 percent down at Rs. 273.65.

According to the statement, the company has maintained its track record of earning profits uninterruptedly for nearly four decades without a break.

BHEL has the capability to deliver 15,000 MW per annum and efforts to increase the capacity to 20,000 MW per year is underway.

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