BHEL posts net loss of Rs 877 crore in FY16

BHEL also informed BSE on Thursday that it has recorded the highest-ever commissioning of projects in its history and the highest order booking in the past five years in 2015-16.

Written by FE News Desk

New Delhi

Updated: April 7, 2016 14:56 IST

Asserting that India is emerging as a bright spot, state-run BHEL's head Atul Sobti has said the recent policy reforms and ease of doing business initiative of the government has improved the business scenario in the country.

Bharat Heavy Electricals Ltd (BHEL) announced its flash results for the financial year ended March 2016 on Thursday. The company reported net loss of Rs 877 crore (provisional) in FY2015-16 against net profit of Rs 1,419 crore last year.

Revenue of BHEL slid 13.72 per cent to Rs 26,702 crore compared to Rs 30,947 crore in the previous ended March 2015.

Order inflows of India’s largest power equipment manufacturer increased by 41.9 per cent to Rs 43,727 crore in FY16 from Rs 30,814 crore last year.

At 2.21 pm, shares of BHEL were trading 4.91 per cent up at Rs 119.60.

The company also informed BSE on Thursday that it has recorded the highest-ever commissioning of projects in its history and the highest order booking in the past five years in 2015-16.

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This article was first uploaded on April seven, twenty sixteen, at thirty-three minutes past two in the afternoon.