Bhel posts solid quarterly net profit of `360 crore
State-run power equipment maker Bhel's standalone net profit declined 59.5 per cent to Rs 359.58 crore in the quarter ended March 31, 2016, due to lower income from operations. The company had posted a net profit of Rs 888.35 crore in the corresponding quarter of 2014-15, the company said in a regulatory filing.
Total income from operations fell by 21.5 per cent to Rs 10,004.77 crore during the January-March quarter 2015-16 compared to that of Rs 12,745.19 crore in the same period of previous fiscal.
However, total expenses decreased to Rs 9,883.76 crore, over Rs 11,345.53 crore in the year-ago period.
"The figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year," it said.
On the consolidated basis, Bhel posted a net loss of Rs 895.93 crore for the year ended March 31, 2016. On the consolidated basis, it had posted a net profit after taxes, minority interest and share of profit of associates of Rs 1452.38 crore for the year ended March 31, 2015.
The board of directors, it said, has recommended a final dividend of Rs 0.40 per share (Face value Rs 2 per share).
The company has an outstanding order book position of Rs 1,10,730 crore at the end of 2015-16. "Orders worth Rs 7,429 crore have been excluded during the year (Rs 3,783 crore excluded in Q-IV) from the order outstanding which are not likely to commence and this has no impact on revenue," the company said.
Shares of the company closed at Rs 128.20 apiece on BSE, down 0.19 per cent from the previous close.
Earlier, Bhel has commissioned 800 mw thermal unit in Karnataka. The unit has been commissioned at the 2x800 mw Yeramarus Thermal Power Station (TPS) located in Raichur district of Karnataka, Bharat Heavy Electricals Limited (Bhel) said in a statement.
Yeramarus is being developed by Raichur Power Corporation Ltd (RPCL) - a joint venture of Karnataka Power Corporation Limited (KPCL) and Bhel. The second unit of this project is also in the advanced stage of construction and is expected to be commissioned shortly, the statement said.
Bhel’s scope of work for the project envisaged design, engineering, manufacture, supply, erection and commissioning of supercritical boiler and turbine generators along with associated civil works and agreed balance of plant packages.