BHEL Results Net Down 69%
Bharat Heavy Electricals Ltd (BHEL), the country’s largest power equipment manufacturer, posted a disappointing set of numbers for the quarter ended December 2014. Net profit was 69 per cent less than in the same period a year before, on lower revenue and operating income, Rs 212.6 crore as compared to Rs 694.8 crore, respectively. Total income dipped 27 per cent to Rs 6,472 crore from Rs 8,926 crore in the same earlier period. There were client-centric delays, too, said analysts, due to the state of affairs in the power sector. BHEL said its order book was Rs 103,900 crore as on December, almost flat as compared to Rs 103,700 crore in the earlier quarter but higher than the Rs 100,600 crore at the end of December 2013. Orders for the financial year’s nine months ending December were up about 80 per cent at Rs 21,000 crore, said an analyst with a domestic brokerage, requesting anonymity.