BackBhel FY14 provisional net profit slumps 51%
Bhel's provisional net profit drops to `3,228 crore in fiscal 2014 from `6,615 crore in fiscal 2013
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Mumbai: Bharat Heavy Electricals Ltd (Bhel), India’s state-run top power equipment maker, reported on Saturday a 51% fall in provisional net profit for the fiscal year ended 31 March.
India’s power sector has been badly hit by shortages of coal and gas supplies, delays in environmental approvals for power and mining projects and drying up of funding—severely denting the demand for equipment.
Provisional net profit at the company fell to 3,228 crore in the last fiscal year 2013/14 from ₹ 6,615 crore reported in the fiscal year 2012/13, a company statement said.
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