B Prasada Rao powers Bhel to robust results
State-run power equipment maker Bharat Heavy Electricals Ltd (Bhel) has achieved impressive fourth quarter results despite a slowdown-hit global economy and <g data-gr-id="20"> and not</g> so “all is well” domestic economy.
On <g data-gr-id="18">Tuesday</g> it reported a 52 per cent fall in standalone net profit to Rs 888.35 crore for the quarter ended March 31, 2015. The state-owned firm had posted a net profit of Rs 1,844.59 crore in the year-ago period, it said in a Bombay Stock Exchange (BSE) filing.
Standalone net sales of the public sector undertaking (PSU) declined by 16 per cent to Rs 12,368.43 crore in the January-March quarter of the last fiscal against Rs 14,754.89 crore in the same quarter of 2013-14 fiscal.
Bhel in a separate filing said it “has recommended final dividend at the rate of 31 per cent (Rs 0.62 per share) on the paid up share capital of the company for the year 2014-15.
For 2014-15 fiscal, its standalone net profit nosedived 59 per cent to Rs 1,419.29 crore from Rs 3,460.78 crore. Standalone net sales fell by 23 per cent to Rs 29,541.97 crore from Rs 38,388.82 crore during the same period. Shares of <g data-gr-id="16">Bhel</g> rose 2.88 per cent to settle at Rs 241 apiece at the BSE.