Shares of power equipment maker BHEL lost about 6 per cent today after the company's standalone net profit declined 59.5 per cent in the fourth quarter ended March 31, 2015-16.
The company's result came post market hours on Friday.
BHEL's scrip tumbled 5.81 per cent to settle at Rs 120.75 on BSE. Intra-day, it declined 6.2 per cent to Rs 120.25.
On NSE, shares of the company dipped 5.77 per cent to end at Rs 120.70.
Consequently, its market valuation fell by Rs 1,823.23 crore to Rs 29,554.77 crore.
The bluechip stock was the worst performer among the Sensex and Nifty components.
"BHEL reported disappointing performance," Emkay Global Financial Services said in a report.
In terms of volume, 16.21 lakh shares of the company changed hands on BSE and over one crore shares were traded at NSE during the day.
The state-run power equipment maker's standalone net profit declined 59.5 per cent to Rs 359.58 crore in the January-March quarter due to lower income from operations.
The company had posted a net profit of Rs 888.35 crore in the corresponding quarter of 2014-15, BHEL had said in a regulatory filing on Friday.
Its total income from operations fell by 21.5 per cent to Rs 10,004.77 crore during the January-March quarter of 2015-16 as compared to that of Rs 12,745.19 crore in the same period of previous fiscal.
However, total expenses decreased to Rs 9,883.76 crore, against Rs 11,345.53 crore in the year-ago period.
