BHEL Q2 net slumps 73% to Rs 125 cr

BHEL today saw its net profit tumble nearly 73% to Rs 124.84 crore in three months ended September this year as lower revenues from power and industry segments took a toll on its profitability. Bharat Heavy Electricals Ltd (BHEL), which is currently facing tough business conditions, had a net profit of Rs 455.95 crore in the September quarter last year. Net sales of the power equipment maker fell to Rs 6,027.58 crore in the second quarter of current fiscal. In the year-ago period, the same stood at Rs 8,819 crore, according to a regulatory filing. Reflecting tough business conditions, BHEL's revenues from power as well as industry segments declined in the latest quarter under review. In the 2014 September quarter, power segment saw revenues fall to Rs 4,736.95 crore from Rs 7,576.38 crore in the year-ago period. Besides, revenues from industry segment dropped to Rs 1,582.36 crore from Rs 1,739.18 crore in the same period a year ago. more at: http://www.business-standard.com/article/pti-stories/bhel-quarterly-net-profit-slumps-73-pc-to-rs-125-crore-114111401037_1.html