Bharat Heavy Electricals Ltd (BHEL) on Tuesday reported a net loss of ₹163 crore in the quarter ended December 31, 2023, led by higher expenses. The public sector undertaking (PSU) had posted a net profit of ₹31 crore in the same quarter a year ago.
BHEL's revenue in the quarter rose 4.6% on a year-on-year basis to ₹5,504 crore, compared to ₹5,263 crore it had posted in Q3FY23. At the operating level, BHEL posted an EBITDA (earnings before interest, taxes, depreciation, and amortization) loss of ₹62 crore in Q3FY24, which narrowed against the loss of ₹143 crore in Q3FY23.
BHEL is one of the largest engineering and manufacturing companies, engaged in design, engineering, construction, testing, commissioning and servicing a wide range of products and services.
BHEL share price recovered from the day's low price of Rs 201.35 and was trading at Rs 212.15 on NSE, still lower by 2.10% at 3.15 pm.
First Published: Feb 13, 2024 3:10 PM IST