Mumbai: Shares of power equipment maker BHEL fell by as much 5% on Monday after the company’s standalone net profit declined 59.5% in the fourth quarter ended 31 March 2015-16. The company’s results came after market hours on Friday.

The stock was down 3.86% to 123.25 apiece on BSE at 1:24pm. On NSE, it was down by 3.63% to 123.45 apiece at 1:27pm. The stock was the worst performer among the blue-chips on both Sensex and Nifty during early trade.

The state-run power equipment maker’s standalone net profit declined 59.5% to 359.58 crore in the January-March quarter due to lower income from operations. The company had posted a net profit of 888.35 crore in the corresponding quarter of 2014-15, the company had said in a regulatory filing on Friday.

Its total income from operations fell by 21.5% to 10,004.77 crore during the January-March quarter of 2015-16 as compared to that of 12,745.19 crore in the same period of previous fiscal year. However, total expenses decreased to 9,883.76 crore, over 11,345.53 crore in the year-ago period.

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