BHEL Q3 results: Net loss at ₹217 crore; revenue drops 22%
State-run engineering firm Bharat Heavy Electricals Limited (BHEL) posted a net loss of ₹217 crore for the quarter ended in December. The company reported a consolidated net profit of ₹162.7 crore for the corresponding quarter last year. The revenue dropped 21.6% year-on-year to ₹4,451.4 crore during the quarter under review. It was ₹5,680.8 crore during Q3FY20.
Total income of the company dipped to ₹4,532.39 crore in the quarter from ₹5,827.74 crore in the same period a year ago. The firm’s EBITDA loss stood at ₹180.4 crore during Q3FY20 against ₹326.6 crore in Q3FY21.
The group’s operation and financial results have been adversely affected by the coronavirus pandemic. On the impact of the COVID-19 pandemic, the company said, “During the quarter, the group operations recovered as compared to Q2/20-21 (second quarter this fiscal), but pre-COVID level of operations are yet to be achieved.”
