State-owned BHEL first quarter loss narrows to Rs 448 crore

State-owned BHEL on Friday reported narrowing of consolidated net loss to Rs 448.20 crore for June quarter 2021-22 mainly due to higher revenues.

The company had reported a net loss of Rs 893.14 crore for the year-ago period, a BSE statement said.

Total income in the quarter rose to Rs 2,966.77 crore from Rs 2,086.43 crore.

The group's operations were impacted by the second wave of the pandemic and the recovery was seen in the latter part of the quarter, it said.

Based on its assessment of the business/economic conditions as on date, the group expects to recover the carrying value of assets, and will continue to evaluate the pandemic-related uncertainty and update its assessment, it added.