Home >companies >Bhel posts Rs1,102 crore loss in Q3 on higher expenses, lower revenue

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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