State-owned Bhel on Friday reported a 60% decline in its standalone profit for the quarter ended on March 31 on account of lower sales from its power equipment business.
State-owned Bhel on Friday reported a 60% decline in its standalone profit for the quarter ended on March 31 on account of lower sales from its power equipment business. The company’s net profit for the fourth quarter came in at Rs 359.58 crore compared with Rs 888.35 crore in the corresponding period of FY15.
During the period, total income from operations declined 21.5% to Rs 10,004.77 crore compared to that of Rs 12,745.19 crore in the same period of last fiscal.
This was mainly attributable to the power segment, which saw its revenue fall by nearly 21% to Rs 8,101.18 crore during the fourth quarter, compared with Rs 10,240 crore in the corresponding period a year ago. However, the cost of material consumed during this period declined by nearly 15% to Rs 5,600 crore.
On the consolidated basis, Bhel posted a net loss of Rs 895.93 crore for the year ended March 31, 2016. 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 has recommended a final dividend of Rs 0.40 per share (face value R2 per share). According
to a statement released by the company, it 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 from the order outstanding, which are not likely to commence and this has no impact on revenue,” the company said.