BHEL shares tank 13% after company's net profit falls 57% in Jan-March

After making a weak opening, shares of the company plunged 12.81 percent to Rs 133.65 on BSE.

PTI May 30, 2017 12:06:09 IST
BHEL shares tank 13% after company's net profit falls 57% in Jan-March

New Delhi: Shares of BHEL today tumbled nearly 13 percent after the company's standalone net profit declined by 57 percent in the March quarter.

BHEL shares tank 13 after companys net profit falls 57 in JanMarch

Reuters

After making a weak opening, shares of the company plunged 12.81 percent to Rs 133.65 on BSE.

At NSE, the stock dived 12.87 percent to Rs 133.60.

On the volume front, 21.44 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the morning session.

State-run BHEL's standalone net profit declined by 57 percent to Rs 215.55 crore in the fourth quarter ended March due to lower income and provisions for higher wages.

The company had posted a standalone net profit of Rs 505.71 crore in the corresponding quarter of previous fiscal, BHEL said in a BSE filing yesterday.

According to the statement, total standalone income decreased to Rs 10,302.79 crore in the quarter under review from Rs 10,870.49 crore year ago.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Infosys down 4%; market cap plunges by Rs 8,589 cr post Q4 numbers
Business

Infosys down 4%; market cap plunges by Rs 8,589 cr post Q4 numbers

The stock was the worst performer among the 30-Sensex companies.

Contrary to expectations, ICICI Bank board meet skips loan controversy surrounding CEO Chanda Kochhar
Business

Contrary to expectations, ICICI Bank board meet skips loan controversy surrounding CEO Chanda Kochhar

Despite many allegations of conflicts of interest being faced by managing director and chief executive Chanda Kochhar, the ICICI Bank board did not discuss the controversy today

Tata Motors March quarter net profit down 16.79% to Rs 4,336.43 crore
Business

Tata Motors March quarter net profit down 16.79% to Rs 4,336.43 crore

Automaker's net profit stood at Rs 5,211.49 crore in Q4 FY16.