BHEL Shares Tank 13% On Weak March Quarter Earnings

New Delhi: Shares of BHEL today tumbled nearly 13 per cent after the company’s standalone net profit declined by 57 per cent in the March quarter.

After making a weak opening, shares of the company plunged 12.81 per cent to Rs. 133.65 on BSE.

At NSE, the stock dived 12.87 per cent to Rs. 133.60.
On the volume front, 21.44 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the morning session.

State-run BHEL’s standalone net profit declined by 57 per cent to Rs. 215.55 crore in the fourth quarter ended March due to lower income and provisions for higher wages.

The company had posted a standalone net profit of Rs. 505.71 crore in the corresponding quarter of previous fiscal, BHEL said in a BSE filing yesterday.

According to the statement, total standalone income decreased to Rs. 10,302.79 crore in the quarter under review from Rs. 10,870.49 crore year ago.

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