BHEL Q4 results: Net loss at Rs 1,532 crore, sales plunge 54%

NEW DELHI: State-run BHEL on Saturday reported a consolidated net loss of Rs 1,532.18 crore for the March quarter compared with a profit of Rs 680.77 crore in the corresponding quarter of last year. Analysts were largely expecting an up to 65 per cent drop in profit.

Ebitda loss for the quarter came in at Rs 560 crore compared with a profit of Rs 925 crore in the year-ago quarter.

Deferred tax expenses for the quarter stood at Rs 822 crore against Rs 14 crore in the year-ago quarter.


The consolidated sales declined 53.65 per cent for the quarter to Rs 4,594.10 crore compared with Rs 9912.08 crore in the same quarter last year.

In a filing to BSE, the company said that nation-wide lockdown, consequent to the spread of Covid-19, has temporarily disrupted the operations of the company. The manufacturing facilities and site executions during March 23-March 31 were inoperative, which along with Covid impact globally (before the lockdown in India) impacted revenues for the year.

"Broadly the impact of revenues is Rs 4,000 crore. Based on internal and external information up to the date, the company expects to recover the carrying amount of its assets, investments, trade receivables, contract assets and inventories," BHEL said in a note.

Due to Covid-19 and extraordinary circumstances, the board of BHEL refrained from recommending the final dividend for FY20.