BHEL slips on reporting dismal Q3 outcome

Bharat Heavy Electricals (BHEL) fell 1.39% to Rs 213.30 after the company reported a net loss of Rs 162.77 crore in Q3 FY24 as against a net profit of Rs 31 crore posted in Q3 FY23.

Net sales grew 6.76% year on year (YoY) to Rs 5,273.49 crore in the quarter ended 31 December 2023.

Revenue from operations was at Rs 5,503.81 crore during third quarter of FY24, registering a growth of 4.57% YoY.

The firm reported a pre-tax loss of Rs 208.91 crore in Q3 FY24 as against a profit before tax of Rs 41.43 crore posted in the same period a year ago.

 

The companys revenue from power segment was at Rs 4,060.52 crore (up 1.71% YoY) while income from industry segment stood at Rs 1,212.97 crore (up 28.04% YoY) during the period under review.

On nine-month basis, the PSU companys net loss widened to Rs 747.85 crore in 9M FY24 from net loss of Rs 150.56 crore in 9M FY23. Revenue from operations increased 5.03% YoY to Rs 15,632.53 crore in 9M FY24.

State-run Bharat Heavy Electricals (BHEL) is engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services to the core sectors of economy. As of 31 December 2023, the Government of India held 63.17% stake in the company.

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