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State-owned Bharat Heavy Electrical Ltd (BHEL) announced that mainly as a result of higher expenses, its consolidated net profit for the March quarter fell by more than 25% to ₹489.62 crore.
According to a regulatory statement, its consolidated net profit for the quarter that ended on March 31, 2023, was ₹658.02 crore. The company's total expenses surged during the quarter to ₹7,794.11 crore from ₹7,411.64 crore during the same time last year.
The total income for the quarter rose slightly from ₹8,338.61 crore to ₹8,416.84 crore from the same period last year. The board has recommended a final dividend at the rate of 12.50%or 25 paise per share with a face value of ₹2 each on paid-up share capital of the company for fiscal year 2023-24, it stated.
Its consolidated net profit in the fiscal 2023-24 also declined to ₹282.22 crore from ₹654.12 crore in 2022-23. Total income in the fiscal increased marginally to ₹24,439.05 crore from ₹23,853.57 crore in 2022-23.
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