BackBhel posts Rs1,102 crore loss in Q3 on higher expenses, lower revenue
Total income from operations declined by 14% to Rs5,325.57 crore in the quarter compared with Rs6,197.96 crore in the year-ago period
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New Delhi: State-run power equipment maker Bharat Heavy Electricals Ltd (Bhel) on Thursday reported stand-alone net loss of ₹ 1,101.99 crore for the quarter ended 31 December 2015 due to higher expenses and lower revenues.
The company had reported a net profit of ₹ 212.60 crore in the year-ago period, Bhel said in a filing to BSE. Total income from operations declined by 14% to ₹ 5,325.57 crore in the October-December quarter 2015-16 compared with ₹ 6,197.96 crore in the year-ago period, the filing said.
Revenues from the power segment declined 9.4% to ₹ 4,402.14 crore during the quarter over ₹ 4,862.35 crore in the year-ago period. Total expenses of the company during the quarter increased to ₹ 7,189.76 crore, over ₹ 6,160.59 crore in the corresponding quarter of 2014-15.
The company has an outstanding order book position of about ₹ 1,09,201 crore at the end of third quarter of the ongoing fiscal, it said adding “orders worth ₹ 3,646 crore have been excluded from the order outstanding which are not likely to commence and this has no impact on revenue".
Shares of the company closed at ₹ 120.35 apiece on BSE, down 6.01% from previous close. The Sensex closed 3.40% lower at 22,951.83 points.
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