Bharat Heavy Electricals annual profit slumps to Rs 3,228 crore

Apr 05 2014, 18:38 IST
Comments 0
Order inflows fell to Rs 28,007 crore in the year ended March 2014 from Rs 31,650 crore in 2012-13 Order inflows fell to Rs 28,007 crore in the year ended March 2014 from Rs 31,650 crore in 2012-13
SummaryState-owned company had posted a net profit of Rs 6,615 cr in 2012-13, Bharat Heavy Electricals said.

Bharat Heavy Electricals Ltd's (BHEL) net profit more than halved to Rs 3,228 crore in the previous financial year as the company grappled with tough business conditions.

The state-owned company had posted a net profit of Rs 6,615 crore in 2012-13, BHEL said today.

The power equipment maker's turnover declined to Rs 40,366 crore from Rs 50,156 crore in 2012-13, BHEL said in a BSE filing on its provisional earnings for the year ended March 31, 2014.

Order inflows fell to Rs 28,007 crore in the year ended March 2014 from Rs 31,650 crore in 2012-13.

Last month, Life Insurance Corp had purchased a more than 4 per cent stake in BHEL from the government after a decisiontaken by an Empowered Group of Ministers.

BHEL's parent ministry, the Heavy Industry and Public Enterprises Ministry, had opposed a proposed disinvestment of shares in the company by the government on account of choppy market conditions.

The government held a 63.06 per cent stake in BHEL at the end of March.

Ads by Google

More from Companies

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...