BHEL's Q2 figures show a Rs 238 crore net loss for the company

9 Nov 2023 , 10:25 AM

On Wednesday, Bharat Heavy Electricals Limited revealed that, compared to a profit of Rs 12 crore during the same period last year, it had a net loss of Rs 238 crore in the September quarter of FY 24. Compared to Rs 5,202.6 crore in September FY23, the company’s revenue dropped by 1.5% to Rs 5,125.3 crore in the September quarter.

The performance of BHEL during the April to June quarter shows a 30.8% decrease in its net loss from Rs 343.89 crore in the prior quarter. BHEL’s EBITDA loss for Q2 of FY23–24 was Rs 387.7 crore.

Within the electricity sector, the Indian PSU recorded a 3% rise in its overall income to Rs 3927.18 crore for the reviewed quarter, compared to Rs 3814.35 for the same period last year. Nonetheless, the consolidated revenue of its industry segment decreased marginally to Rs 1017.6 crore from Rs 1113.60 crore.

BHEL declared a Rs 343.9 crore net loss for the April–June quarter. During the same quarter in the previous year, BHEL reported a net loss of Rs 188 crore. The company reported Rs 5,003.4 crore in total revenue for Q1FY24. Comparing Q1FY23 revenue of Rs 4,672 crore to Q1FY23 revenue, there was an increase of 7.1%.

In comparison to Rs 902.7 crore during the same period in the previous fiscal year, its EBITDA increased by 14.9% to Rs 1,037.4 crore in the first quarter of this fiscal year.

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