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BHEL Reports Widening Q1 Loss Despite Revenue Increase Article: Bharat Heavy Electricals Limited (BHEL) released its Q1 results, revealing a significant increase in revenue alongside a widened loss. The company's performance for the quarter ending in June was marked by challenges that impacted its bottom line, as the loss expanded compared to the same quarter the previous year. Loss Widens Despite Revenue Growth BHEL, a prominent player in the power generation and engineering industry, reported a consolidated loss of Rs 343.89 crore for the first quarter of the fiscal year 2023-24. This was a notable increase from the loss of Rs 187.99 crore recorded during the same quarter in the previous year. The loss was far larger than anticipated by experts, as Kotak Institutional Equities had forecasted a loss of Rs 217.60 crore for the quarter. In stark contrast, BHEL had achieved a profit of Rs 611 crore during the previous quarter ending in March. This substantial shift from profit to loss within a span of just a few months underscores the challenges faced by the company in a rapidly evolving market landscape. Revenue Rises, But Falls Short of Expectations Despite the widening loss, BHEL managed to achieve growth in its revenue figures. The company's consolidated sales for the quarter reached Rs 4,818.37 crore, showcasing an increase from the Rs 4,449.49 crore recorded during the same period the previous year. This upward trajectory in revenue suggests that BHEL has been successful in generating demand and securing orders for its products and services. However, the revenue figure fell short of both market expectations and internal projections. Kotak Institutional Equities had predicted a YoY sales increase of 7.1 percent, reaching Rs 5,004 crore, whereas PL had set a more optimistic projection of a 15.2 percent sales growth.

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Business

BHEL Reports Widening Q1 Loss Despite Revenue Increase

Bharat Heavy Electricals Limited (BHEL) released its Q1 results, revealing a significant increase in revenue alongside a widened…

August 4, 2023