BHEL Q2 net profit down 9.7 per cent at Rs1,274 crore

Bharat Heavy Electricals Ltd (BHEL) has reported a 9.74 per cent decline in its fiscal second quarter (July-September 2012-13) net profit at Rs1,274.45 crore compared to a net profit of Rs1,412.03 crore in the July-September quarter of the previous financial year.

The state-run electrical equipment major said its income from operations in the July-September quarter grew a little over 2 per cent year-on-year to Rs11,009.28 crore from Rs10,758.08 crore in the year-ago quarter.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) for the July-September 2012-13 quarter stood at 18.3 per cent against 18.1 per cent in the year-ago quarter.

BHEL said in a filing with the stock exchanges that its order book position stood at Rs1,22,000 crore as of 30 September 2012, down 25 per cent from the year-ago level.

Orders have, in fact, come down from about Rs133,000 crore at end-June as power producers curbed spending on equipment due to uncertainties plaguing the power sector.

The country's power sector has been plagued by shortages of coal and gas supplies, delays in environmental approvals for power and mining projects and drying up of funds.