BHEL reports net loss of Rs 163 crore for Oct-Dec quarter

New Delhi : Bharat Heavy Electricals Ltd on Tuesday reported a standalone net loss of Rs 163 crore for the October-December quarter of the current financial year. The company had made a net profit of Rs 31 crore in the same quarter last year.

However, the public sector giant’s standalone revenue from operations rose 4.5 per cent to Rs 5,504 crore during the third quarter of the current fiscal year from Rs 5,264 crore in same period of the previous year.

BHEL had reported a fall in its quarterly profit in the fourth quarter of 2022-2023 and has been reporting quarterly losses since then as it struggles with higher costs of key raw materials such as steel, copper and rubber. Prices of the three commodities have been steadily rising in recent months.