BHEL’s Q1 order inflows robust but earnings are unpredictable
State-run Bharat Heavy Electricals Ltd (BHEL) results for three months ended June (Q1FY24) are far from inspiring. Dismal operating performance led to wider losses. Loss at Ebitda level stood at ₹364 crore last quarter, up from ₹170 crore in Q1FY23, hurt by higher operating expenses and elevated provisions. This comes at a time when BHEL’s net revenues have increased by 7% year-on-year to ₹5,003 crore. Investors are not pleased. Company’s shares closed 2.4% down on Monday.