Tuesday, July 5, 2022

Turnaround: BHEL posts Rs 912-cr net profit in Q4, announces dividend

BHEL in Q4 has posted Rs 912.47 crore consolidated net profit in the March quarter, backed by higher income

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New Delhi: State-owned engineering firm BHEL 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 the January-March period of the 2020-21 fiscal year.

“The BHEL board 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”

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.

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