Bhel achieves Rs 125-crore Q2 profit
15 Nov 2014 12:18 AM GMT
Bharat Heavy Electricals Ltd (Bhel), which is currently facing tough business conditions, had a net profit of Rs 455.95 crore in the September quarter last year.
Net sales of the power equipment maker fell to Rs 6,027.58 crore in the second quarter of current fiscal. In the year-ago period, the same stood at Rs 8,819 crore, according to a regulatory filing.
Reflecting tough business conditions, Bhel's revenues from power as well as industry segments declined in the latest quarter under review. In the 2014 September quarter, power segment saw revenues fall to Rs 4,736.95 crore from Rs 7,576.38 crore in the year-ago period.
Besides, revenues from industry segment dropped to Rs 1,582.36 crore from Rs 1,739.18 crore in the same period a year ago.
In accordance with guidelines in the Companies Act, 2013, the carrying amount of the assets as on 1 April, 2014, has been depreciated over the remaining revised useful life of the fixed assets, the filing said.
'Consequently, depreciation for the quarter and half year ended 30 September, 2014 is higher by Rs 17.37 crore and Rs 44.31 crore, respectively, and the profit before tax is lower to this extent,' it said.
Net sales of the power equipment maker fell to Rs 6,027.58 crore in the second quarter of current fiscal. In the year-ago period, the same stood at Rs 8,819 crore, according to a regulatory filing.
Reflecting tough business conditions, Bhel's revenues from power as well as industry segments declined in the latest quarter under review. In the 2014 September quarter, power segment saw revenues fall to Rs 4,736.95 crore from Rs 7,576.38 crore in the year-ago period.
Besides, revenues from industry segment dropped to Rs 1,582.36 crore from Rs 1,739.18 crore in the same period a year ago.
In accordance with guidelines in the Companies Act, 2013, the carrying amount of the assets as on 1 April, 2014, has been depreciated over the remaining revised useful life of the fixed assets, the filing said.
'Consequently, depreciation for the quarter and half year ended 30 September, 2014 is higher by Rs 17.37 crore and Rs 44.31 crore, respectively, and the profit before tax is lower to this extent,' it said.
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