BHEL Q4 net declines 52% at Rs 888.35 cr

Standalone net sales of the public sector undertaking declined by 16% to Rs 12,368 crore

State-run power equipment maker Bharat Heavy Electricals Ltd (BHEL) today reported 52% fall in standalone net profit at Rs 888.35 crore for the quarter ended March 31, 2015.

The state-owned firm had posted a net profit of Rs 1,844.59 crore in the year-ago period, it said in a BSE filing.

Standalone net sales of the public sector undertaking (PSU) declined by 16% to Rs 12,368.43 crore in the January-March quarter of the last fiscal against Rs 14,754.89 crore in the same quarter of 2013-14 fiscal.

BHEL in a separate filing said it "has recommended final dividend at the rate of 31% (Rs 0.62 per share) on the paid up share capital of the company for the year 2014-15.

For 2014-15 fiscal, its standalone net profit nosedived 59% to Rs 1,419.29 crore from Rs 3,460.78 crore.

Standalone net sales fell by 23% to Rs 29,541.97 crore from Rs 38,388.82 crore during the same period.

Shares of BHEL today rose 2.88% to settle at Rs 241 apiece at the BSE.