 "BHEL Q1 net profit nearly halves to Rs 465 crore")
Bharat Heavy Electricals Ltd today posted nearly 50% decline in net profit at Rs 465.43 crore for the first quarter ended June 30, 2013, as the state-run company was hurt by lower sales.
The power equipment maker had clocked net profit of Rs 920.90 crore in the year-ago period.
The power equipment maker had clocked net profit of Rs 920.90 crore in the year-ago period.
In the first quarter of current fiscal, BHEL saw its net sales decline substantially to Rs 6,352.55 crore from Rs 8,326.24 crore in the same period a year ago, according to a regulatory filing.
Sluggish prospects in the domestic power sector as well as cheap overseas imports of power equipment is adversely impacting the business of BHEL.
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At the end of June quarter, the company's outstanding order book stood at Rs 1,08,600 crore.
During the latest June quarter, BHEL's total expenses was lower at Rs 6,300.34 crore as compared to Rs 7,465.21 crore in the corresponding period last financial year.
At the end of June quarter, the company's outstanding order book stood at Rs 1,08,600 crore.