BHEL's FY16 provisional loss at Rs 877 cr

State-run power equipment maker BHEL has reported a provisional loss of Rs 877 crore for the last fiscal despite booking new orders worth Rs 43,727 crore and a turnover of Rs 26,702 crore.
The tentative or flash financial results of the company were approved by its board of directors in a meeting held today, BHEL said in a BSE filing.
BHEL recorded a provisional loss of Rs 877 crore in 2015-16 compared with the audited net profit of Rs 1,419 crore in the previous fiscal (2014-15).
It further said its turnover was Rs 26,702 crore in the last fiscal as against Rs Rs 30,947 crore in the preceding fiscal.

However, the company's order inflow or bookings rose to Rs 43,727 crore last fiscal from Rs 30,814 crore in the previous fiscal.
The company's loss before tax was estimated at Rs 1,440 crore last fiscal compared with the profit before tax of Rs 2,140 crore in 2014-15.

In a separate statement, the company said, "With a net profit of Rs 396 crore during Q4 FY16 (January-March 2016), the company reported a net loss of Rs 877 crore during the year (2015-16).
"The performance during the year has been impacted mainly due to continued subdued business environment, resulting in reduced level of operations and non-lifting of hold in most of the stranded projects," it said.

It further said, the company's continued focus on cash realisation during the year has resulted in a cash surplus situation. The rising trend of debtors has also been arrested.
However, the company has recorded the highest-ever power generation capacity addition of 15 GW during the last fiscal and inflow of orders was the largest in last five years.