BHEL tanks nearly 9 pc after Dec quarter loss

Shares of BHEL on Monday tanked nearly 9 per cent after the company reported a consolidated net loss of Rs 217.86 crore for the October-December quarter.The stock tumbled 8.61 per cent to close at Rs 39.80 on BSE.

Shares of BHEL on Monday tanked nearly 9 per cent after the company reported a consolidated net loss of Rs 217.86 crore for the October-December quarter.

The stock tumbled 8.61 per cent to close at Rs 39.80 on BSE. During the day, it plummeted 9.18 per cent to Rs 39.55. On NSE, it tanked 8.73 per cent to settle at Rs 39.75.

In volume terms, 77.57 lakh shares were traded on BSE and over 11.44 crore on NSE. The state-owned engineering firm on Saturday reported a consolidated net loss of Rs 217.86 crore for the October-December quarter due to lower revenues.

The consolidated net profit of the firm was Rs 161.81 crore in the quarter ended on December 31, 2019, according to a regulatory filing. Total income of the company dipped to Rs 4,532.39 crore in the reported quarter from Rs 5,827.74 crore in the same period a year ago.