The slowdown in the capital goods industry has pushed Union government-controlled Bhel (Bharat Heavy Electricals Ltd) into its first-ever annual loss of Rs 896 crore for the year ended March. It had recorded a profit of Rs 1,452 crore in 2014-15.
On stand-alone basis, its net profit declined 60 per cent to Rs 359.6 crore for the quarter ended March, against Rs 888 crore in 2014-15, on lower income from operations. Total income from operations fell 21.5 per cent to Rs 10,005 crore during January-March 2016 compared to Rs 12,745 crore a year ago. Total expenses decreased to Rs 9,884 crore, over Rs 11,345 crore a year ago.