BHEL shares tank over 9 pc on Q4 earnings disappointment

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State-run engineering firm BHEL on Saturday reported a consolidated net loss of Rs 1,532.18 crore for the March quarter, mainly due to lower revenues.
State-run engineering firm


New Delhi, Jun 15 (PTI)
 Shares of engineering firm BHEL on Monday tanked over 9 per cent after the company reported a consolidated net loss of Rs 1,532.18 crore for the March quarter.

The stock plunged 9.53 per cent to Rs 28.45 on the BSE.

On the NSE, the stock tumbled 9.23 per cent to Rs 28.50.

BHEL on Saturday reported a consolidated net loss of Rs 1,532.18 crore for the March quarter, mainly due to lower revenues and deferred tax.

The company had posted a consolidated net profit of Rs 680.77 crore in the quarter ended March 2019, it said in a BSE filing.

Total income for the quarter under review stood at Rs 5,193.51 crore, down from Rs 10,489.11 crore in the year-ago quarter.

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