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.
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.
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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.
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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