Bharat Heavy Electricals Ltd., or BHEL, India's premier engineering firm, reported a fall in its lower stand-alone net profit for the fourth-quarter on lower income.
Stand-alone Results
The New Delhi-based company posted a fourth-quarter stand-alone net profit of Rs.3,237.54 crore or Rs.13.23 per share, lower by four percent than the Rs.3,379.81 crore or Rs.13.81 per share in the fourth-quarter of 2012.
Its quarterly net income from operations fell by two percent to Rs.18,850.16 crore from the Rs.19,264.40 crore in the corresponding quarter last year, while other operating income amounted to Rs.354.22 crore, compared with Rs.362.90 crore for the same period last year.
During the quarter, total income from operations amounted to Rs.19,866.77 crore from the Rs.20,249.47 crore in the previous year quarter, reflecting a two percent decline.
For the quarter, income from 'Power' segment totaled Rs.15,539.18 crore, flat from last year's Rs.15,573.79 crore in the year-ago quarter, while that from 'Industry' declined by seen percent to Rs.4,340.92 crore from the Rs.4,678.88 crore in the corresponding quarter last year.
For the fiscal year, BHEL's stand-alone net profit was Rs.6,614.73 crore, down by six percent from the Rs.7,039.96 crore in 2012.
Net income from operations for the fiscal year was flat at Rs.47,617.67 crore, compared with Rs.47,227.86 crore in 2012, while other operating income totaled Rs.806.98 crore, compared with Rs.751.03 crore a year-ago.
During the year, stand-alone total income from operations increased by one percent to Rs.50,156.48 crore from the Rs.49,509.78 crore in the preceding year.
Consolidated Results
For the full year, BHEL's consolidated net profit dropped by six percent to Rs.6,693.37 crore from the Rs.7,087.44 crore a year-ago.
Net income grew by one percent to Rs.48,106.31 crore from the Rs.47,598.95 crore a year ago, while other operating income amounted to Rs.809.53 crore, compared with Rs.756.27 crore in 2012.
For the full year, total consolidated income from operations rose by one percent to Rs.50,672.84 crore from the Rs.49,897.57 crore in the preceding year.
The company's Board recommended a final dividend of 164.5 percent or Rs.3.29 per equity share of Rs.2 each for the fiscal year 2012, to be paid on October 04.
BHEL closed Wednesday's trading at Rs.195.80, down 3.74 percent from the previous close at the BSE.
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