BHEL shares tumble over 7% after weak Q4 results, dividend announcement

The heavy electrical equipment maker fell to an intraday low of ₹295, down 7.5%, in the morning trade. At 9:55 am, the stock was trading at ₹298.7, a decline of 6.4% on the NSE.

It was trading 6.3% lower at ₹298.9 on the BSE.

BHEL Q4 results

On Tuesday, BHEL posted a consolidated net profit of ₹489.6 crore in the fourth quarter of financial year 2023-24 as against a net profit of ₹658 crore in the corresponding period last year, reflecting a decline of 25%.

The company's revenue from operations increased 0.4% to ₹8,260.2 crore in the latest March quarter. In the year-ago period, the revenue stood at ₹8226.9 crore.

The EBITDA (Earnings before interest, taxes, depreciation, and amortization) fell 30.6% to ₹728 crore in the last quarter of FY24, while the EBITDA margin was at 8.8%.

The state-owned company also announced a final dividend of ₹0.25 per equity share of ₹2 each on the firm's paid-up share capital for FY24.

For the entire FY23, net profit fell by 56.8% to ₹282.2 crore, while revenue from operations rose 2.6% to ₹23,982.7 crore.