BHEL stock down 5% on weak Q4 results

Shares of power equipment maker BHEL fell by 5 per cent after the company’s standalone net profit declined 59.5 per cent in the fourth quarter ended March 31, 2015-16.

The company’s result came post market hours on Friday.

The stock declined by 5 per cent to Rs 121.70 at BSE.

On NSE, it went down by 4.91 per cent to Rs 121.80.

The stock was the worst performer among the blue—chips on both Sensex and Nifty during the early trade.

The state-run power equipment maker’s standalone net profit declined 59.5 per cent to Rs 359.58 crore in the January—March quarter due to lower income from operations.

The company had posted a net profit of Rs 888.35 crore in the corresponding quarter of 2014—15, the company had said in a regulatory filing on Friday.

Its total income from operations fell by 21.5 per cent to Rs 10,004.77 crore during the January—March quarter of 2015—16 as compared to that of Rs 12,745.19 crore in the same period of previous fiscal.

However, total expenses decreased to Rs 9,883.76 crore, over Rs 11,345.53 crore in the year—ago period.

BHEL