Bharat Heavy Electricals Limited (BHEL) has dipped 5% to Rs 153 on BSE after reporting a sharp 41% year-on-year (yoy) decline in net profit at Rs 695 crore for the third quarter ended December 31, 2013 (Q3) due to lower realization. The state-owned company had profit of Rs 1,182 crore in a year ago quarter.
Net sales too declined by 15.5% yoy at Rs 8,635 crore due to execution delays. Revenue from power segment declined by 11.9% yoy to Rs 7,319 crore while revenue from Industry segment declined 28.5% yoy to Rs 1,600 crore, BHEL said in a statement.
On the EBITDA front, the company's margin contracted by 457bp yoy to 11.4%.
Net sales too declined by 15.5% yoy at Rs 8,635 crore due to execution delays. Revenue from power segment declined by 11.9% yoy to Rs 7,319 crore while revenue from Industry segment declined 28.5% yoy to Rs 1,600 crore, BHEL said in a statement.
On the EBITDA front, the company's margin contracted by 457bp yoy to 11.4%.
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