The company had reported a net profit of Rs 465.43 crore during the same period, last fiscal, Bhel said in a filing to the stock exchanges.
The company's income from operations was down to Rs 5,067.59 crore from Rs 6,352.55 crore in the corresponding quarter last fiscal.
Bhel's revenues from power sector plummeted to Rs 4,144.16 crore from Rs 5,378.60 crore and those from the industry segment to Rs 1,133.05 crore from Rs 1,292.60 crore, respectively.
‘Bhel's numbers were significantly below expectations. We continue to remain negative on the stock,’ Sanjeev Zarbade, Vice President- Private Client Group Research, Kotak Securities said in a statement.
Government has identified some sick PSUs which will be either merged or taken over by SAIL, Bhel and HMT. The three sick PSUs are Praga Tools Ltd, Bharat Heavy Plates Vessels Lts and Bharat Refractories Ltd.
Meanwhile, Bhelal ongwith five other PSUs will build the world’s largest 4,000 MW ultra mega solar power project in Rajasthan.
The JV will have equity of 26 per cent from Bhel, 23 per cent from SECI (Solar Energy Corporation of India), 16 per cent from SSL (Sambhar Salt Ltd), 16 per cent from PGCIL, 16 per cent from SJVNL (Satluj Jal Vidyut Nigam) and 3 per cent from REIL (Rajasthan Electronics & Instruments Limited).
The project will come up on surplus land available with SSL in Sambhar, Rajasthan.
The equipment will be supplied by Bhel, power evacuation infrastructure will be put up by PGICL, electricity sale will be done by SECI, operation & maintenance by REIL and project management by SJVNL.
The project will be developed in different phases in seven to eight years.
The company's income from operations was down to Rs 5,067.59 crore from Rs 6,352.55 crore in the corresponding quarter last fiscal.
Bhel's revenues from power sector plummeted to Rs 4,144.16 crore from Rs 5,378.60 crore and those from the industry segment to Rs 1,133.05 crore from Rs 1,292.60 crore, respectively.
‘Bhel's numbers were significantly below expectations. We continue to remain negative on the stock,’ Sanjeev Zarbade, Vice President- Private Client Group Research, Kotak Securities said in a statement.
Government has identified some sick PSUs which will be either merged or taken over by SAIL, Bhel and HMT. The three sick PSUs are Praga Tools Ltd, Bharat Heavy Plates Vessels Lts and Bharat Refractories Ltd.
Meanwhile, Bhelal ongwith five other PSUs will build the world’s largest 4,000 MW ultra mega solar power project in Rajasthan.
The JV will have equity of 26 per cent from Bhel, 23 per cent from SECI (Solar Energy Corporation of India), 16 per cent from SSL (Sambhar Salt Ltd), 16 per cent from PGCIL, 16 per cent from SJVNL (Satluj Jal Vidyut Nigam) and 3 per cent from REIL (Rajasthan Electronics & Instruments Limited).
The project will come up on surplus land available with SSL in Sambhar, Rajasthan.
The equipment will be supplied by Bhel, power evacuation infrastructure will be put up by PGICL, electricity sale will be done by SECI, operation & maintenance by REIL and project management by SJVNL.
The project will be developed in different phases in seven to eight years.