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  Business   Companies  30 May 2017  BHEL shares tumble after company's net profit decline

BHEL shares tumble after company's net profit decline

PTI
Published : May 30, 2017, 12:24 pm IST
Updated : May 30, 2017, 12:24 pm IST

Shares tumbled nearly 13 per cent as net profit declined by 57 per cent in the March quarter.

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New Delhi: Shares of BHEL today tumbled nearly 13 per cent after the company's standalone net profit declined by 57 per cent in the March quarter. After making a weak opening, shares of the company plunged 12.81 per cent to Rs 133.65 on BSE.

At NSE, the stock dived 12.87 per cent 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 per cent 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.

Tags: bhel, bhel shares, bhel net profit
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