December 24, 2024 01:47 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
India refrains from commenting on extradition request for ousted Bengladeshi PM Sheikh Hasina | I don't blame Allu Arjun, ready to withdraw case: Pushpa 2 stampede victim's husband | Indian New Wave Cinema Architect Shyam Benegal dies at age 90 | Cylinder blast at a temple in Karnataka's Hubbali injures nine people | Kuwait PM personally sees off Modi at airport as Indian premier concludes two-day trip | Three pro-Khalistani terrorists, who attacked a police outpost in Gurdaspur, killed in an encounter | Who is Sriram Krishnan, an Indian-American picked by Donald Trump as US AI policy advisor? | Mohali building collapse: Death toll rises to 2, many feared trapped for 17 hours | 4-year-old killed after speeding car driven by a teen hits him in Mumbai | PM Modi attends opening ceremony of Arabian Gulf Cup in Kuwait

BHEL Q4FY24 net profit drops 26% to Rs 489.62 cr

| @indiablooms | May 22, 2024, at 02:35 am

New Delhi: State-owned Bharat Heavy Electricals Limited (BHEL) on Tuesday reported a consolidated net profit of Rs 489.62 crore for the January-March quarter (Q4) in the financial year 2023-24 (FY24).

This was a 25.6 percent drop in net profit compared to Rs 658.02 crore reported during the same period last year, attributed to higher expenses by the firm. Sequentially, the firm's net profit grew sevenfold from Rs 60.31 crore.

Consolidated revenue from operations grew marginally by 0.4 percent to Rs 8,260.25 crore year-on-year (Y-o-Y) from Rs 8,226.99 crore. Sequentially, revenue grew 50 percent from Rs 5,503.81 crore.

Total expenses of BHEL, which makes power and industrial equipment, grew by 5 percent Y-o-Y to Rs 7,794.11 crore in the fourth quarter from Rs 7,411.64 crore. Expenses, however, surged 40.75 percent in Q4 compared to Rs 5,537.47 crore in the last quarter.

BHEL accounts for 53 per cent of the country's total installed power generation capacity. Competitor Tata Power reported an 11 percent increase at Rs 1,046 crore in consolidated net profit for the same period. Meanwhile, Siemens reported a 74 percent rise in profit after tax (PAT) at Rs 896 crore on higher revenues in Q4.

BHEL ended FY24 with a 56.85 per cent drop in PAT at Rs 282.22 crore.

The company had reported Rs 654.12 crore at the end of FY23. Revenue from operations for the entire financial year grew 2.3 percent Y-o-Y to Rs 23,892.78 crore compared to Rs 23,364.94 crore.

Meanwhile, company expenses rose 4.6 percent to Rs 24,260.37 crore Y-o-Y from Rs 23,193.98 crore.

The company board recommended a dividend of 25 paise per equity share of Rs 2 face value for FY24. The final dividend, upon approval, will be paid within 30 days from the date of the Annual General Meeting (AGM).

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.