BHEL Stocks Slide Amidst Widening Net Loss
BHEL shares fell over 6% after the company's net loss widened to Rs 455.50 crore in the June quarter. The loss increased due to higher expenses, despite an income rise to Rs 5,658.07 crore. BHEL's losses continued to grow, affecting stock prices at the BSE and NSE.
- Country:
- India
Shares of Bharat Heavy Electricals Ltd (BHEL) experienced a significant drop of over 6% on Thursday. This decline followed the announcement of a widened consolidated net loss, which reached Rs 455.50 crore for the June quarter, compared to the previous year.
At the Bombay Stock Exchange (BSE), BHEL's stock price fell 6.19% to Rs 224.80. Similarly, at the National Stock Exchange (NSE), it decreased by 6.30% to Rs 224.71. The company's financial turmoil has sparked concern among investors.
The primary reason for the increased loss was attributed to higher expenses, as noted in a BSE filing. Despite a slight rise in total income to Rs 5,658.07 crore, expenses surged to Rs 6,279.78 crore, contributing to the company's financial challenges.
(With inputs from agencies.)
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