Bharat Heavy Electricals or BHEL, the largest government-owned power generation equipment manufacturer in India witnessed a decline of over 30 per cent in consolidated profit after tax (PAT) for the quarter ended March 2023 (Q4FY23).
The profit in the corresponding quarter of the previous year was Rs 912.5 crore, whereas, in Q4FY23, it dropped to Rs 611 crore. However, there was a two per cent increase in total revenue from operations.
The earnings report indicated that the total revenue from operations for the reviewed quarter was Rs 8226.99 crore, the same as the previous year’s corresponding quarter.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) also experienced a decline of 14.4 per cent. It decreased from Rs 1,151.9 crore in the same quarter of the previous year to Rs 986.2 crore in Q4FY23.
On Friday, the company’s share price opened at Rs 82.10 and closed at Rs 78.95, reflecting a 3.42 per cent decrease prior to the release of the results.
The Board of Directors has recommended a final dividend of 20 per cent, amounting to Rs 0.40 per share of Rs 2 each on the paid-up share capital of the company for the fiscal year 2022-23. If approved at the annual general meeting, the final dividend will be paid or dispatched within 30 days from the date of the annual general meeting.