Bhel shares down over 3% as annual profit slides

Tags: BHEL, Companies
Bharat Heavy Electricals Ltd's shares were down over 3 per cent today after the

RELATED ARTICLES

company's net profit more than halved in the previous financial year.

Shares settled down by 3.32 per cent at Rs 177.85 on the BSE. During the day, the stock lost 4 per cent to Rs 176.45.

The blue-chip scrip was the top loser among the 30-Sensex components.

At the NSE, the stock fell by 3.43 per cent to settle at Rs 177.20.

Net profit of BHEL for FY14 more than halved to Rs 3,228 crore on account of low volumes and challenges in the domestic power sector. The power equipment major had posted a net profit of Rs 6,615 crore in 2012-13.

The state-owned major's turnover declined to Rs 40,366 crore from Rs 50,156 crore in 2012-13.

"Profit impact is due to low volumes. Certain ongoing projects have got impacted as the Indian power sector continues to be besieged with issues relating to fund constraints, land acquisition, clearances and coal linkages," BHEL had said.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • Time and tide are ripe for megaplans such as Sagarmala

    To say that India’s infrastructure is in urgent need of upgrade would be to state the obvious.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

China looks to India for balance

Almost a third of the total world population lives in ...

Zehra Naqvi

Love and its stories

People must have bread. They can live without stories. No, Hameeda, ...

Dharmendra Khandal

Tiger in urban landscape

Ranthambhore is in a no-win situation. Just a few days ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture