BHEL posts Rs.1,102 crore Q3 loss on higher expense, lower revenue

State-run equipment maker Bharat Heavy Electricals Ltd (BHEL) on Thursday reported a standalone net loss of Rs.1,101.99 crore for the third quarter of 2015-16, as against a net profit of Rs.212.60 crore in the same period a year ago, caused by higher expenses and lower revenues.

Total income from operations in the quarter in consideration declined 14 percent to Rs.5,325.57 crore, compared to Rs.6,197.96 crore in the corresponding period a year ago, the company said in a stock exchange filing.

BHEL revenues from its power segment declined 9.4 percent to Rs.4,402.14 crore during the quarter in question, from Rs.4,862.35 crore in the same period of last fiscal.

Total expenses during the quarter increased to Rs.7,189.76 crore, over Rs.6,160.59 crore spent in the corresponding quarter of 2014-15.

BHEL said it has an outstanding order book position of Rs.1,09,201 crore at the end of the third quarter of the current fiscal.

BHEL stock closed on Thursday at Rs.120.35 a share, 7.70 points, or 6.01 percent lower than its previous close on the Bombay Stock Exchange.