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Shares of Bharat Heavy Electricals Limited (BHEL) were trading lower by 3% at Rs 260 on NSE after reporting a disappointing set of numbers for the quarter ended December 2014 (Q3).
The stock opened at Rs 251 and has seen a combined 5.89 million shares changing hands on the counter till 1024 hours on NSE and BSE.
The country's largest power equipment manufacturer has reported a sharp 69% year-on-year (yoy) decline in net profit at Rs 213 crore in Q3FY15, due to lower revenue and operating income. The company had profit of Rs 695 crore in a year ago quarter. Total income dipped 27% to Rs 6,472 crore from Rs 8,926 crore in the same earlier period.
Analysts on an average had expected net profit of Rs 500 crore on revenues of Rs 7,538 crore.
The stock opened at Rs 251 and has seen a combined 5.89 million shares changing hands on the counter till 1024 hours on NSE and BSE.
The country's largest power equipment manufacturer has reported a sharp 69% year-on-year (yoy) decline in net profit at Rs 213 crore in Q3FY15, due to lower revenue and operating income. The company had profit of Rs 695 crore in a year ago quarter. Total income dipped 27% to Rs 6,472 crore from Rs 8,926 crore in the same earlier period.
Analysts on an average had expected net profit of Rs 500 crore on revenues of Rs 7,538 crore.
