Bharat Heavy Electricals Ltd (BHEL) on Saturday returned to black posting Rs 912.47 crore consolidated net profit in the March quarter, backed by higher income.
In the year-ago quarter, the State-owned engineering firm had reported a consolidated net loss of Rs 1,036.32 crore, according to a regulatory filing.
Total income during January-March 2022, rose to Rs 8,181.72 crore, from Rs 7,245.16 crore in the year-ago period.
Its expenses trimmed to Rs 7,091.29 crore in comparison to Rs 8,644.28 crore in January-March period of 2020-21 fiscal year.
According to the filing, the board of the company has also approved a final dividend of Rs 0.40 per share on the paid up share capital of the company for the financial year 2021-22.
''The spread of COVID-19 pandemic globally caused disturbance and slowdown of economic activity. It impacted the company's operations during the FY 2021-22, which recouped progressively,'' Bharat Heavy Electricals Limited (BHEL) said.