BHEL Q4 net profit drops 25%; Declare Dividend
Consolidated revenue from operations surged by 0.4 per cent to Rs 8,260.25 crore year-on-year (Y-o-Y) from Rs 8,226.99 crore.
State-owned unit Bharat Heavy Electricals Limited has reported a consolidated net profit of Rs 489.62 crore for the January-March quarter (Q4) in the financial year 2023-24 (FY24).
There was a 25.6 per cent fall in net profit as against Rs 658.02 crore reported during the corresponding previous year leading to higher expenses.
Sequentially, the firm's net profit rises multiple times from Rs 60.31 crore.
Consolidated revenue from operations surged by 0.4 per cent to Rs 8,260.25 crore year-on-year (Y-o-Y) from Rs 8,226.99 crore.
Sequentially, revenue grew 50 per cent from Rs 5,503.81 crore.
Read Also : IndusInd Bank Q1 FY25 results, net profit at 2% YoYTotal expenses of BHEL, contributing power and industrial equipment, jumped by 5 per cent Y-o-Y to Rs 7,794.11 crore in the fourth quarter from Rs 7,411.64 crore.
On the other hand, expenses surged to 40.75 per cent in Q4 compared to Rs 5,537.47 crore in the last quarter.
BHEL accounts for 53 per cent of the country's total installed power generation capacity.
Read Also : RBI issues guidelines on higher liquidity coverage ratio for retail depositsA 56.85 per cent drop in PAT at Rs 282.22 crore is registered. The company had reported Rs 654.12 crore at the end of FY23. Revenue from operations for the FY24 year rose 2.3 per cent Y-o-Y to Rs 23,892.78 crore compared to Rs 23,364.94 crore.
Meanwhile, company expenses rose 4.6 per cent to Rs 24,260.37 crore Y-o-Y from Rs 23,193.98 crore. The company board recommended a dividend of 25 paise per equity share of Rs 2 face value for FY24.
The final dividend will be paid within 30 days from the date of the Annual General Meeting (AGM), subject to shareholders approval.
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