BHEL's stock plunged over 6% following its weaker-than-expected Q1 financial performance.
The company’s earnings report failed to meet street expectations, leading to investor disappointment.
Shares of state-owned Bharat Heavy Electricals Ltd's (BHEL) on Thursday tumbled over 6% after the company said its consolidated net loss widened to ₹455.50 crore in June quarter compared to a year ago.
The stock dropped 6.19% to ₹224.80 on the BSE.
At the NSE, it tanked 6.30 per cent to ₹224.71.
BHEL on Wednesday said its consolidated net loss widened to ₹455.50 crore in June quarter compared to a year ago, mainly due to higher expenses.
The company had a consolidated net loss of ₹211.40 crore in the quarter ended on June 30, 2024, a BSE filing stated.
Total expenses rose to ₹6,279.78 crore in the quarter from ₹5,874.98 crore in the same period year ago.
However, the total income rose slightly to ₹5,658.07 crore in the quarter from ₹5,581.78 crore a year ago.
