BHEL shares down over 3% as Q3 net profit falls

Shares of power equipment maker BHEL today fell by over 3 per cent after the company reported 69 per cent fall in net profit for the third quarter of 2014-15.
BHEL's scrip ended the day 3.12 per cent down at Rs 259.55 on the BSE. During the day, it fell by 6.3 per cent to Rs 251.
At the NSE, it lost 3.10 per cent to Rs 259.40.
The dip in the stock eroded Rs 2,043.54 crore in market valuation of BHEL at Rs 63,527.46 crore at close.
State-run power equipment maker BHEL yesterday reported a massive 69 per cent fall in net profit at Rs 212.60 crore for the third quarter, hit by lower sales.

The PSU firm had reported a net profit of Rs 694.81 crore in the corresponding quarter of the previous financial year (2013-14), BHEL had said in a regulatory filing to the stock exchange.
Net Sales of the company plunged to Rs 6,078.37 crore from Rs 8,462.38 crore in the same period last fiscal.
BHEL's revenue from the power sector witnessed a steep decline at Rs 4,862.35 crore during the quarter from Rs 7,319.59 crore in the year-ago period.