New Delhi: State-run power equipment maker Bharat Heavy Electricals Ltd (BHEL) on Tuesday reported 52 percent 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 percent 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 percent (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 percent to Rs 1,419.29 crore from Rs 3,460.78 crore.
Standalone net sales fell by 23 percent to Rs 29,541.97 crore from Rs 38,388.82 crore during the same period.
Shares of BHEL today rose 2.88 percent to settle at Rs 241 apiece at the BSE.
