BHEL reports loss of Rs 343 crore in Q1FY24; stock tumbles ~4%

7 Aug 2023 , 12:13 PM

Bharat Heavy Electricals Ltd (BHEL), a state-owned engineering corporation, reported a Rs 343.89 crore increase in its consolidated net loss in the April-June quarter compared to the previous year, primarily due to higher expenses.

Following this development, BHEL was trading 3.44% lower at Rs 95.55, against the previous close of Rs 98.95 on NSE. The counter touched an intraday high and low of Rs 99.60 and Rs 94.80, respectively.

According to BHEL’s filing with the bourses, it reported a consolidated loss of Rs 187.99 crore in the quarter ended June 30, 2022.

The company said that its total expenses increased to Rs 5,595.47 crore in the quarter ending June, compared to Rs 5,006.50 crore in the same quarter last year.

The company’s total income jumped to Rs 5,117.20 crore in Q1FY24, from Rs 4,742.28 crore the previous corresponding quarter.

For feedback and suggestions, write to us at [e-mail]