Bharat Heavy Electricals (BHEL) announced that its board has approved the appointment of Koppu Sadashiv Murthy as chief financial officer (CFO) with effect from 24 April 2024.
Koppu Sadashiv Murthy, (CMD) with additional charge of Director (Finance) has been appointed as CFO in place of Jai Prakash Srivastava, Director (E, R&D).Murthy is an Electrical Engineering graduate from Bhopal University with an MBA in Finance. During 34 years of years of wide-ranging experience in corporate office and in various manufacturing units of BHEL such as Hyderabad, Bhopal, Jhansi, and Varanasi, Murthy developed a comprehensive set of competencies in strategic, operational, project & commercial management, project finance & control, capital & revenue budgeting and receivables management.
He is also having the expertise knowledge in the area of Financial systems & procedures to put in place financial frameworks together with an in-depth knowledge of corporate financial law, risk management practices, data analysis, forecasting methods and ability to strategize and solve problems efficiently.
State-run Bharat Heavy Electricals (BHEL) is engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services to the core sectors of economy. As of 31 March 2024, the Government of India held 63.17% stake in the company.
The company posted a standalone net loss of Rs 163 crore in Q3 FY24 as against a net profit of Rs 31 crore in Q3 FY23. The public sector undertakings income from operations rose by 7% YoY to Rs 5,273 crore in the third quarter.
The scrip rallied 2.90% to end at Rs 271.60 on Thursday, 25 April 2024.
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