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Business News/ Companies / Company Results/  Covid-19 impact: BHEL posts net loss of 1,532 cr in Q4, total income plunges
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Covid-19 impact: BHEL posts net loss of ₹1,532 cr in Q4, total income plunges

Due to Covid-19 and extraordinary circumstances, the board of BHEL refrained from recommending the final dividend for FY20

(Photo: ANI)Premium
(Photo: ANI)

New Delhi: Public sector engineering major Bharat Heavy Electricals Ltd (BHEL) on Saturday posted a net loss of 1,534 crore in the quarter ended March compared to a net profit of 676 crore in Q4FY19.

Total income fell to 5,198 crore in Q4FY20 from 10,492 crore in Q4FY19. Total expenses too came down to 5,906 crore from 9,217 crore in the same period.

The March quarter is an execution-heavy quarter for capital goods companies whose deliveries were hit by the Covid-19 nationwide lockdown in the last week of March.

BHEL said the manufacturing facilities and site executions were inoperative from March 23 to 31 which along with the Covid-19 impact globally (before the lockdown in India) impacted the revenues.

"Broadly, the impact on revenue for the year (2019-20) is assessed at 4,000 crore. Based on internal and external information, the company expects to recover the carrying amount of its assets, investments, trade receivable, contract assets and inventories."

Due to Covid-19 and extraordinary circumstances, the board of BHEL refrained from recommending the final dividend for FY20.

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This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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Published: 13 Jun 2020, 05:02 PM IST
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