BHEL net profit falls over 25% to Rs 489.6 cr in Q4; declares 12.5% final dividend

New Delhi: State-owned Bharat Heavy Electrical Ltd (BHEL) on Tuesday reported an over 25 per cent decline in its consolidated net profit to Rs 489.62 crore in the March quarter, mainly due to higher expenses.

Its consolidated net profit stood at Rs 658.02 crore in the quarter ended on March 31, 2023, according to a regulatory filing.

Total expenses of the firm rose to Rs 7,794.11 crore in the quarter from Rs 7,411.64 crore in the same period a year ago.

Total income in the quarter rose marginally to Rs 8,416.84 crore in the quarter from Rs 8,338.61 crore in the year-ago period.

The board has recommended a final dividend at the rate of 12.50 per cent or 25 paise per share with a face value of Rs 2 each on paid-up share capital of the company for fiscal year 2023-24, it stated.

Its consolidated net profit in the fiscal 2023-24 also declined to Rs 282.22 crore from Rs 654.12 crore in 2022-23.

Total income in the fiscal increased marginally to Rs 24,439.05 crore from Rs 23,853.57 crore in 2022-23.