BHEL Q3: Net Loss Narrows To Rs 163 Crore Over Preceding Quarter

The firm logged a 6 per cent jump in its income from operations at Rs 5,273.49 crore in the quarter under review, against Rs 4,939.49 crore reported in the corresponding quarter a year earlier

This improvement was credited to the growth in income and reduction in expenses ( Image Source :BHEL Website )

Bharat Heavy Electricals Limited reported a loss in its financial earnings for the third quarter (Q3) of the ongoing fiscal year on Tuesday. The state-owned firm reported a standalone net loss of Rs 162.77 crore in the quarter ended December 2023 in the 2023-24 fiscal year (FY24), against a profit of Rs 31 crore registered in the third quarter of the preceding 2022-23 fiscal year (FY23), it informed via a regulatory filing.

At the same time, the standalone loss of the firm narrowed in comparison to the preceding quarter ended September 2023 in FY24, which stood at Rs 233.41 crore. This improvement was credited to the growth in income and reduction in expenses.

The power generation equipment manufacturer logged a 6 per cent jump in its income from operations at Rs 5,273.49 crore in the quarter under review, against Rs 4,939.49 crore reported in the corresponding quarter a year earlier. In the second quarter of FY24, the income from operations stood at Rs 4944.78 crore.

The overall expenses of the firm eased by over 9 per cent on a year-on-year (YoY) basis. The expenses for Q3FY24 stood at Rs 5,816.87 crore, improving from Rs 5,320.84 crore logged in the same quarter a year earlier. The expenses for the preceding quarter in FY24 stood at Rs 5753.32 crore.

Segment-wise, the revenue for the power sector of the firm increased marginally by almost 2 per cent and stood at Rs 4,060.52 crore for the third quarter in FY24, against Rs 3,992.12 crore clocked in the same period last year. For the September 2023 quarter, the revenue from the segment stood at Rs 3927.18 crore.

The industry segment recorded a jump of 28 per cent in the revenue, which stood at Rs 1,212.97 crore in the reporting quarter, up from Rs 947.37 crore in the December quarter in FY23. The revenue for Q2FY24 was Rs 1017.60 crore.