Bharat Heavy Electricals Limited (BHEL) has reported a growth rate of 22% in the net profit which stood at Rs 13474 million during the quarter ended on March 31, 2009.

The company stated in a communiqué that it has recorded a net profit of Rs 11108 million in the three month period ended on 31, March 2008.

During the quarter under review, company’s total Income has surged to 110472 million from Rs 76262 million for the same period last fiscal.

For the financial year ended 31st March, 2009, the equipment major has registered 9% increase in net profit which stood at Rs 31382 million as compared to Rs 28593 million in the previous fiscal. Total income of the company during the same year has also surged to Rs 276466 million from Rs 207616 million in the year ago.

Further, company’s board has declared a final dividend of 80% in addition to the interim dividend of 90% already paid.

Stock of Bharat Heavy Electricals ended the day in green at Rs 2,082, up 4.52% on National Stock Exchange (NSE). The total volume of shares trade on NSE was 1,222,438.