Bharat Heavy Electricals (BHEL) witnessed 56% y-o-y drop in revenues to Rs 20 bn implying continued weak execution. The company reported Ebitda loss of Rs 10.6 bn as material costs increased 830bps y-o-y to 65.9%; however, 48% y-o-y drop in other expenditure due to focus on cost reduction and lower provision partially mitigated losses.
