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HindustanTimes Fri,18 Apr 2014

BHEL FY13 provisional profit down 8%

Reuters  New Delhi, April 08, 2013
First Published: 13:07 IST(8/4/2013) | Last Updated: 13:18 IST(8/4/2013)

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.

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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)

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