Mumbai: Shares of state-run power equipment maker BHEL today tumbled 12 percent to hit a one-year low level after the company reported standalone net loss of Rs 1,101.99 crore for the quarter ended December 31.
- The stock plummeted by 12 percent to Rs 105.80 – its 52-week low - on BSE.
- At NSE, shares of the company plunged 12 percent to hit a one-year low of Rs 105.70.
- The stock was the top loser on both Sensex and Nifty during the morning trade.
- BHEL yesterday reported standalone net loss of Rs 1,101.99 crore for the quarter ended December 31, due to higher expenses and lower revenues.
- The company had reported a net profit of Rs 212.60 crore in the year-ago period, Bharat Heavy Electricals Ltd (BHEL) said in a filing to BSE yesterday.
- Total income from operations declined by 14 per cent to Rs 5,325.57 crore in the October-December quarter 2015-16 compared to Rs 6,197.96 crore in the year-ago period, the filing said.
- Revenues from the power segment declined 9.4 per cent to Rs 4,402.14 crore during the quarter over Rs 4,862.35 crore in the year-ago period.
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