June30 , 2022

BHEL returns to black, posts Rs 912-cr net profit in Q4, declares dividend

Related

Share




State-owned engineering firm on Saturday returned to black posting Rs 912.47 crore consolidated net profit in the March quarter, backed by higher income.


In the year-ago quarter, the company had reported a consolidated net loss of Rs 1,036.32 crore, according to a regulatory filing.





Total income during January-March 2022, rose to Rs 8,181.72 crore, from Rs 7,245.16 crore in the year-ago period.


Its expenses trimmed to Rs 7,091.29 crore in comparison to Rs 8,644.28 crore in January-March period of 2020-21 fiscal year.


According to the filing, the board of the company has also approved a final dividend of Rs 0.40 per share on the paid up share capital of the company for the financial year 2021-22.


“The spread of COVID-19 pandemic globally caused disturbance and slowdown of economic activity. It impacted the company’s operations during the FY 2021-22, which recouped progressively,” Bharat Heavy Electricals Limited (BHEL) said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link