On a consolidated basis, the PSU company reported a net loss of Rs 447.48 crore in Q1 FY22, lower than net loss of Rs 892.83 crore registered in Q1 FY21.
Total revenue from operations jumped 45.7% to Rs 2,901.32 crore in Q1 FY22 from Rs 1,990.90 crore posted in Q1 FY21. The company reported a pre tax loss of Rs 597.17 crore in Q1 FY22 as compared to a pre tax loss of Rs 1,192.40 crore recorded in Q1 FY21.
The company said it operations were impacted by the second wave of the Covid -19 pandemic and the recovery was seen in the later part of the quarter ended 30 June 2021. Based on its assessment of the business/economic conditions as on date, the company said it expects to recover the carrying value of assets and will continue to evaluate the pandemic-related uncertainty and update its assessment.
State-run BHEL is engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services to the core sectors of economy. As of 30 June 2021, the Government of India held 63.17% stake in the company.
Shares of BHEL closed 1.25% lower at Rs 59.45 on Friday.
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