After posting good results in the quarter ended March 2016, expectations were high on BHEL. But, much to the Street’s disappointment, BHEL’s March quarter (Q4) performance lagged estimates significantly — revenues were at Rs 9,833 crore (down six per cent year-on-year or y-o-y) and net profit at Rs 215 crore (down 57 per cent y-o-y).
Revenue growth was stunted as the performance of the industry segment (constituted by orders from private power producers) fell by 21 per cent y-o-y to Rs 1,765 crore. Even that of the power segment (mostly catering to state-owned thermal plants) grew only three per cent.
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