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Bharat Heavy Electricals Ltd, India's state-run top power equipment maker, reported on Monday an 8% fall in provisional net profit for the fiscal year ended March 31.
India's power sector has been badly hit by shortages of coal and gas supplies, delays in environmental approvals for power and mining projects and drying up of funding -- severely denting the demand for equipment.
Provisional net profit at the company fell to 64.85 billion rupees ($1.18 billion) in the last fiscal year from 70.40 billion rupees reported in the fiscal year 2011/12, a company statement said.
($1 = 54.8350 Indian rupees)