Bharat Heavy Electricals (BHEL) reported a consolidated net loss of Rs 187.99 crore in Q1 FY23 as compared to a consolidated net loss of Rs 448.20 crore in Q1 FY22.
Net sales stood at Rs 4,449.49 crore for the quarter ended 30 June 2022 as against Rs 2,723.82 crore during the same period in the previous year, registering a growth of 63.35%.BHEL posted a pre-tax loss of Rs 250.84 crore in Q1 FY23 as against a pre-tax loss of Rs 597.17 crore registered in the same quarter last year.
The company's total expenditure surged 40.15% to Rs 5,006.5 crore in Q1 FY23 from Rs 3,572.12 posted in Q1 FY22. Cost of raw material consumed jumped 52.97% to Rs 1,030.77 crore in Q1 FY23 as against Rs 673.83 crore recorded in Q1 FY22.
Power business sales stood at Rs 3,526.20 crore, up by 66.57% YoY while industry segment sales was at Rs 923.29 crore higher by 52.13% YoY.
State-run BHEL is engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services to the core sectors of economy. As of 30 June 2022, the Government of India held 63.17% stake in the company.
Shares of BHEL fell 1.32% to Rs 52.50 on the BSE.
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