State-run power equipment maker Bharat Heavy Electricals Ltd (BHEL) on Tuesday reported 52 per cent fall in standalone net profit at Rs. 888.35 crore for the quarter ended March 31, 2015.
The state-owned firm had posted a net profit of Rs. 1,844.59 crore in the year-ago period, it said in a BSE filing.
Standalone net sales of the public sector undertaking (PSU) declined by 16 per cent to Rs. 12,368.43 crore in the January-March quarter of the last fiscal against Rs. 14,754.89 crore in the same quarter of 2013-14 fiscal.
BHEL in a separate filing said it “has recommended final dividend at the rate of 31 per cent (Rs. 0.62 per share) on the paid up share capital of the company for the year 2014-15.
For 2014-15 fiscal, its standalone net profit nosedived 59 per cent to Rs. 1,419.29 crore from Rs. 3,460.78 crore.
Standalone net sales fell by 23 per cent to Rs. 29,541.97 crore from Rs. 38,388.82 crore during the same period.