On May 21st, the Maharatna PSU BHEL (Bharat Heavy Electronics Limited) recorded a 25% slump in its consolidated net profit to Rs 489.62 crore in the March quarter FY24, owing to higher expenses. Total expenses of the firm rose to Rs 7,794.11 crore in the quarter from Rs 7,411.64 crore in the same period in 2023. The total income in the quarter rose marginally to Rs 8,416.84 crore in the quarter from Rs 8,338.61 crore in the year-ago period.
The board has recommended a final dividend at the rate of 12.5% or 25 paise per share with a face value of Rs 2 each on the paid-up share capital of the company for fiscal year 2023-24. Its consolidated net profit in the fiscal 2023-24 also declined to Rs 282.22 crore from Rs 654.12 crore in 2022-23 while its total income in the fiscal increased marginally to Rs 24,439.05 crore from Rs 23,853.57 crore in 2022-23.
