BHEL 2010-11 provisional net up 40% to Rs 6,021 cr

New Delhi : Bharat Heavy Electricals Ltd, India's top power equipment maker, said on Monday its 2010-11 provisional net profit rose 40%, sending its shares up more than 3%. State-run BHEL, which faces intensifying competition from Chinese and South Korean rivals, won new orders worth Rs 60,507 crore ($13.6 billion) in the fiscal year ended March 31, just above its target of Rs 60,000 crore.

It had an order backlog of Rs 1.64 lakh crore at the end of March, the company said. Large order wins in late March helped the company overcome a slowdown, faced also by other infrastructure-focused Indian firms.