BHEL Reports 25% Slump In Profit, Announces ₹0.25 Dividend

Public Service Enterprise BHEL posted its earnings for the quarter ended March after the market close on Tuesday.

What Happened: BHEL’s net profit for the quarter went down around 25% to ₹489.60 crore compared to the ₹658 crore posted in the same quarter last year. Revenue from operations came in at ₹8,260 crore, up 0.4% from the ₹8,227 crore posted in the same period last year.

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The heavy electrical equipment maker also announced a ₹0.25 final dividend for the year ended March 2024. EBITDA for the quarter was at ₹728 crore. Total expenses for the January-March period were at ₹7,794 crore, up around 5% from the ₹7,411 crore posted during the same period last year.

Shares of the state-owned company have been on a bull run ahead of the results. The company has been on a gaining streak for the past seven sessions. In the last five sessions, the stock has gone up around 12%.

Price Action: BHEL’s share price closed 2.72%higher at ₹318.80 on Tuesday.

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Posted In: EarningsEquitiesNewsMarketsBHEL