BHEL shares plummet 12% on disappointing Q3 results

Shares of state-run power equipment maker BHEL today tumbled 12 per cent to hit a one-year low level after the company reported standalone net loss of Rs 1,101.99 crore for the quarter ended December 31.
The stock plummeted by 12 per cent to Rs 105.80 -- its 52-week low -- on BSE.
At NSE, shares of the company plunged 12 per cent to hit a one-year low of Rs 105.70.
The stock was the top loser on both Sensex and Nifty during the early trade.
BHEL yesterday reported standalone net loss of Rs 1,101.99 crore for the quarter ended December 31, due to higher expenses and lower revenues.

The company had reported a net profit of Rs 212.60 crore in the year-ago period, Bharat Heavy Electricals Ltd (BHEL) said in a filing to BSE yesterday.
Total income from operations declined by 14 per cent to Rs 5,325.57 crore in the October-December quarter 2015-16 compared to Rs 6,197.96 crore in the year-ago period, the filing said.
Revenues from the power segment declined 9.4 per cent to Rs 4,402.14 crore during the quarter over Rs 4,862.35 crore in the year-ago period.