Bharat Heavy Electricals Limited (BHEL) has dipped almost 5% to Rs 217 after reporting 18% year-on-year (yoy) drop in its net profit at Rs 1,182 crore for the third quarter ended December 31, 2012 (Q3) on account of lower operational income.
“Total income from operations declined 4.7% to Rs 10,042 crore from Rs 10,542 crore over the same quarter of previous year,” the state-owned heavy electrical equipment maker said in a statement.
The company’s total order book position has declined to Rs 113,700 crore at the end of December 2012 quarter from Rs 122,300 crore as on September 2012 (Q2).
Meanwhile, the board of directors of the company has declared interim dividend @106% i.e. Rs 2.12 per equity share for the financial year 2012-13.
Interim dividend shall be paid/ dispatched on February 15, 2013, it added.
The stock opened at Rs 228 and hit a high of Rs 230 on BSE before announcement of Q3 results. A combined 7.69 million shares have changed hands on the counter till noon deals on BSE and NSE.