BHEL’s Q4 net profit declines by nearly 60 percent

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Mumbai, May 27 (IANS) State-run power equipment manufacturer Bharat Heavy Electricals (BHEL) on Friday reported a 59.52 percent decline in its standalone net profit for the fourth quarter of 2015-16.

The company’s Q4 net profit stood at Rs.359.58 crore from Rs.888.35 crore reported in the corresponding quarter of 2014-15.

The power equipment manufacturer’s total income from operations for the quarter under review plunged by 21.5 percent to Rs.10,004.77 crore from Rs.12,7458.19 crore.

For the full financial year 2015-16, the company’s standalone net loss stood at Rs.913.42 against a net profit of Rs.1,419.29 crore in 2014-15.

The company’s standalone total income for the year ended March 31, 2016, declined by 15.25 percent to Rs.25,629.99 crore from Rs.30,242.14 crore in the corresponding previous fiscal.

On a consolidated basis, the company’s net loss for 2015-16 stood at Rs.897.39 from a net profit of Rs.1,450.44 crore in 2014-15.

The consolidated total income fell by 14.57 percent to Rs.26,350.60 crore from Rs.30,847.75 crore in the corresponding previous fiscal.

According to the company, it has an outstanding order book position of Rs.110,730 crore at the end of 2015-16.

The company’s board of directors recommended a final dividend of Rs.0.40 per share out of free reserves, on the paid-up share capital of the Company for the year 2015-16.



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