Shares of Bharat Heavy Electricals Limited (BHEL) slipped 4% on 12 February despite the company obtained an order from the Damodar Valley Corporation in Kolkata for Rs 6,200 crore.
In OTA regulatory filing, the company said that they have secured a contract through international competitive bidding for the Steam Generator Island Package of the 2×660 MW Raghunathpur Thermal Power Station Phase-II project in the Purulia region of West Bengal.
Regarding the nature of the order, BHEL said in an exchange filing, “(i) Supply and Erection, Testing & Commissioning works – Steam Generator and Auxiliaries, ESP, FGD systems, Ash Handling systems along with electrical and C&I (ii) Associated Civil Works.”
The order should be completed in 48–52 months, according to BHEL.
The power and industrial equipment manufacturer reported a net profit of Rs 125 crore for the three months that ended on 31 December. This is an increase from the Rs 213 crore loss that was recorded during the same period last year.
The overall costs of BHEL rose 31% to Rs 7,225 crore as a result of a 22% increase in input costs. “Other expenses” of Rs 907 crore were also expended, though no details were given.
Revenue from operations climbed by over 32% to Rs 7,277 crore during the quarter, including a 32% growth from the power segment.
At 1:34 pm, the shares of BHEL were trading 0.035℅ higher at Rs 199.78 on NSE.
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