BHEL shares tumble over 6% after Q1 earnings

New Delhi: Shares of state-owned Bharat Heavy Electricals Ltd's (BHEL) on Thursday tumbled over 6 percent after the company said its consolidated net loss widened to Rs 455.50 crore in June quarter compared to a year ago.

PSU Watch is now on Whatsapp Channels. Click here to join

The stock dropped 6.19 percent to Rs 224.80 on the BSE.

At the NSE, it tanked 6.30 percent to Rs 224.71.

BHEL on Wednesday said its consolidated net loss widened to Rs 455.50 crore in June quarter compared to a year ago, mainly due to higher expenses.

The company had a consolidated net loss of Rs 211.40 crore in the quarter ended on June 30, 2024, a BSE filing stated.

Total expenses rose to Rs 6,279.78 crore in the quarter from Rs 5,874.98 crore in the same period year ago.

However, the total income rose slightly to Rs 5,658.07 crore in the quarter from Rs 5,581.78 crore a year ago.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)