BHEL Q4 profit falls 57%, misses estimates
Net profit was Rs 216 crore ($33.47 million) in the quarter ended March 31, compared with Rs 506 crore a year earlier.business Updated: May 30, 2017 12:10 IST
State-run power equipment maker Bharat Heavy Electricals Ltd on Monday reported a 57% fall in fourth-quarter net profit, missing analysts’ estimates by a big margin.
Ahead of the Q4 numbers, BHEL shares closed down 3% lower at Rs 153.65 in a firm Mumbai market whose benchmark Sensex was up 0.26%.
Net profit was Rs 216 crore ($33.47 million) in the quarter ended March 31, compared with Rs 506 crore a year earlier.
Analysts on average had expected a quarterly profit of Rs 582 crore, Thomson Reuters data showed.
Total revenue from operations fell 2.4% to Rs 10,158 crore.
(With inputs from Reuters)