/ BHEL Slumps 10% After Q4 Net Profit Down 57% To Rs 215.6 Cr ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 30 May 2017

Bharat Heavy Electricals Limited (BHEL) slumped over 10.5% on the BSE at 1050 hours as the company posted a 57% drop in its net profit for the fourth quarter ended on March 2017.The stock hit a lower circuit of Rs 138 per share.

The PSU posted a profit of Rs 216 crore for the quarter, compared with Rs 506 crore posted for the corresponding period last year.

BHEL’s standalone revenue for the quarter stood at Rs 9,688 crore, indicating a 7.2 per cent decline year-on-year. Operational revenue of the company fell 2.4 per cent to Rs 101.58.

The company in its filling to the exchanges on Monday said that the board of directors have recommended final dividend at 39% (Rs. 0.78 per share).

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