BHEL’s net profit more than doubles in Oct-Dec quarter
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.
BHEL has entered into an agreement with Bharat Electronics Ltd to develop and market products, systems and sensors for defence and non-defence applications.
“A memorandum of understanding (MoU) was signed between Bharat Heavy Electricals Ltd (BHEL) and Bharat Electronics Ltd (BEL) during DEFEXPO 2020 at Lucknow,” BHEL said in a filing to the BSE on Friday.
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The agreement is aimed to benefit both, BHEL and BEL as it will compliment strengths and capabilities of BHEL and BEL to develop and market products, systems and sensors for defence and non-defence applications, the filing added.
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The MoU will also enable BHEL and BEL to make joint efforts to explore markets for products individually developed or jointly developed by both companies, it added.
(With input from agencies)
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