BHEL Q3 profit falls on slowdown in orders

Fri Feb 1, 2013 7:50pm IST

An employee from the electricity board works on newly installed overhead power cables ahead of the ''Kumbh Mela'' as the sun sets in Allahabad December 7, 2012. REUTERS/Jitendra Prakash/Files

An employee from the electricity board works on newly installed overhead power cables ahead of the ''Kumbh Mela'' as the sun sets in Allahabad December 7, 2012.

Credit: Reuters/Jitendra Prakash/Files

Related Topics

Stocks

   
Border Security Force (BSF) soldiers ride their camels as they rehearse for the "Beating the Retreat" ceremony in New Delhi January 27, 2015. REUTERS/Ahmad Masood

"Beating The Retreat" Rehearsals

Rehearsals are on for "Beating the Retreat" ceremony which symbolises retreat after a day on the battlefield, and marks the official end of the Republic Day celebrations.  Slideshow 

REUTERS - Bharat Heavy Electricals Ltd(BHEL.NS), India's top power equipment maker, missed analyst estimates with a 17.5 percent fall in third-quarter net profit, hit by a slowdown in new orders, sending its shares down more than 4 percent.

India's power sector has been badly hit by shortages of coal and gas supplies, delays in environmental approvals for power and mining projects and drying up of funding -- severely denting the demand for equipment.

Net profit at the state-run company fell to 11.82 billion rupees in the quarter ended December 31 from 14.33 billion rupees in the year-ago quarter.

Analysts, on average, had expected a net profit of 13.84 billion rupees, according to Thomson Reuters I/B/E/S.

BHEL's order book stood at 1.14 trillion rupees, down from about 1.22 trillion rupees at the end of September.

Shares of BHEL ended down 1.2 percent.

($1 = 53.1900 rupees)

(Reporting By Aradhana Aravindan and Aditi Shah in MUMBAI; Editing by Sunil Nair)

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

Reuters Showcase

Vodafone Ruling

Vodafone Ruling

Government will not appeal Vodafone tax ruling   Full Article 

Indian Railways

Indian Railways

Private refiners compete with state firm to sell diesel to railways   Full Article 

Ranbaxy Results

Ranbaxy Results

Dec-quarter net loss widens on forex loss  Full Article 

Market Eye

Market Eye

Sensex, Nifty retreat from record highs on profit-taking.  Full Article 

Tech Talk

Tech Talk

Apple takes high road in China smartphone standoff with Xiaomi.  Full Article 

Business Strategy

Business Strategy

Uber scraps commissions for its New Delhi taxis.  Full Article 

Job Cuts

Job Cuts

Sony to cut 1,000 jobs in smartphone business - sources.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage