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Business News/ Companies / Company Results/  BHEL Q4 Results: Net profit drops 25% to 489 crore, revenue up marginally; dividend declared
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BHEL Q4 Results: Net profit drops 25% to ₹489 crore, revenue up marginally; dividend declared

BHEL Q4 Results: The largest state-owned power generation equipment manufacturer's revenue from operations in the fourth quarter of FY24 rose marginally by 0.4 per cent to ₹8,260 crore.

BHEL Q4 Results: Revenue rose marginally to ₹8,260 crore. (In Picture: A BHEL power plant at Simhadri)Premium
BHEL Q4 Results: Revenue rose marginally to 8,260 crore. (In Picture: A BHEL power plant at Simhadri)

BHEL Q4 Results: Bharat Heavy Electricals (BHEL) announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Tuesday, May 21, reporting a fall of 25.6 per cent in net profit at 489.6 crore compared to 658 crore in the corresponding period last year. 

The largest state-owned power generation equipment manufacturer's revenue from operations in the fourth quarter of FY24 rose marginally by 0.4 per cent to 8,260 crore, compared to 8,227 crore in the year-ago period.

BHEL Q4 Results- Key Metrics

On the operating front, the public sector undertaking (PSU's) earnings before interest, taxes, depreciation, and amortization (EBITDA) in the March quarter rose 30.6 per cent to 728 crore, compared to 1,049 crore in the same period last year. Margin came in at 8.8 per cent compared to 12.8 per cent in the year-ago period.

Also Read: BHEL is on right track, but a slow one

The total expenses of the firm rose to 7,794.11 crore in the March quarter from 7,411.64 crore in the same period a year ago. The total income in the quarter-under-review rose marginally to 8,416.84 crore in the quarter from 8,338.61 crore in the year-ago period.

The power generating PSU's consolidated net profit in the fiscal 2023-24 also declined to 282.22 crore from 654.12 crore in 2022-23. The total income in the fiscal increased marginally to 24,439.05 crore from 23,853.57 crore in 2022-23. 

Also Read: REC arm, BHEL tie up for renewable energy projects

The power major's board has recommended a final dividend at the rate of 12.50 per cent or 25 paise per share with a face value of 2 each on paid-up share capital of the company for FY24. ‘’The board has recommended final dividend at 12.50 per cent or 0.25 per share of 2 each on the paid up share capital of the Company for FY 2023-24,'' said BHEL in a regulatory filing to the stock exchanges.

‘’The final dividend, if declared by the company in the Annual General Meeting (AGM) shall be paid/ dispatched within 30 days from the date of the AGM'', added BHEL. Ahead of the announcement of Q4FY24 results, shares of BHEL settled 2.95 per cent higher at 319.20 apiece on the BSE.

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Nikita Prasad
Nikita covers business news and has been producing news on digital platforms since 2018. She writes on economy, policy, markets, commodities, industry. Her core areas of interests include infrastructure, energy, oil and gas, railways, and transport/mobility. She has worked for business news channels like Moneycontrol, NDTV Profit, and Financial Express in the past. If you have story ideas/pitches/reports or quotes/views to share, reach her at nikita.prasad@htdigital.in.
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Published: 21 May 2024, 05:51 PM IST
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