BHEL dips as Q3 profit disappoints

BHEL dips as Q3 profit disappoints

Shares of Bharat Heavy Electricals Limited (BHEL) were trading lower by 3% at Rs 260 on NSE after reporting a disappointing set of numbers for the quarter ended December 2014 (Q3).

The stock opened at Rs 251 and has seen a combined 5.89 million shares changing hands on the counter till 1024 hours on NSE and BSE.

The country's largest power equipment manufacturer has reported a sharp 69% year-on-year (yoy) decline in net profit at Rs 213 crore in Q3FY15, due to lower revenue and operating income. The company had profit of Rs 695 crore in a year ago quarter. Total income dipped 27% to Rs 6,472 crore from Rs 8,926 crore in the same earlier period.

Analysts on an average had expected net profit of Rs 500 crore on revenues of Rs 7,538 crore.