State-run power equipment maker Bharat Heavy Electricals Ltd (BHEL) today reported a 82.48 per cent plunge in standalone net profit at Rs 33.89 crore for the quarter ended June 30, 2015 due to lower sales.
The PSU firm had reported a net profit of Rs 193.50 crore in the corresponding quarter of the previous fiscal, BHEL said in a regulatory filing.
Net sales during the quarter were at Rs 4,280.76 crore against Rs 5,067.59 crore in the year-ago period, registering a decline of 15.5 per cent.
Revenues from the power sector declined to Rs 3,357.13 crore from Rs 4,144.16 crore.
“The company has an outstanding order book position of about Rs 1,16,200 crore at the end of quarter 1/2015—16,” the company said.
BHEL had signed three agreements with Kazakh companies during Prime Minister Narendra Modi’s recent visit to the country.
The first pact was signed with JSC Samruk Energy, the national power utility of Kazakhstan which has a major share in Kazakh’s power sector, BHEL had said in a statement last month.
The company shares ended the session down by 5.67 per cent at Rs 266.20 on the BSE.