New Delhi: Government engineering company Bharat Heavy Electricals Limited has incurred huge losses in the third quarter of FY 2021-22. BHEL reported a net loss of Rs 217 crore in the December quarter. Whereas, the company had a net profit of Rs 162.7 crore in the December quarter of 2019-20. The company’s revenue declined 21.6% in Q3 this year. BHEL’s total revenue fell to Rs 4,451.4 crore in the December quarter from Rs 5,680.8 crore in the year-ago period.
BHEL’s total income fell to Rs 4,532.39 crore in Q3 as against Rs 5,827.74 crore in the year-ago period. Along with this, the earnings before tax (EBITDA loss) of the company also increased to Rs 326.6 crore as against Rs 180.4 crore in the December quarter last year. This year BHEL’s operational and financial results have been severely affected due to the corona virus epidemic.
The company said that the performance of the company has been affected due to Kovid and the company has not yet reached the pre-Kovid level. However, the company has hoped that the value of its assets will improve due to recovery in economic activity.
