State-owned engineering company Bharat Heavy Electricals (BHEL) disappointed the street on every parameter in the third quarter of financial year 2012-13 with the net profit falling 17.5 percent year-on-year - higher than expected - to Rs 1,182 crore in the December quarter.
Revenues dropped by 4.8 percent to Rs 10,041 crore from Rs 10,548 crore during the same period.
Analysts on an average were expecting net profit at Rs 1,371 crore on revenues of Rs 10,862 crore for the quarter.
Earnings before interest, tax, depreciation and amortisation (EBITDA) declined 13.3 percent YoY to Rs 1,634 crore in the third quarter.
EBITDA margin slipped significantly to 16.3 percent in the October-December quarter as against 17.9 percent in a year ago period and expectations of 18.1 percent.
Outstanding order book declined to Rs 1.13 lakh crore as on December 31 as against Rs 1.22 lakh crore reported in September quarter.
Other income rose by 2.5 times to Rs 332.4 crore from Rs 130.7 crore quarter-on-quarter.
BHEL declared an interim dividend of Rs 2.12 per equity share for the financial year 2012-13. Interim Dividend shall be dispatched on February 15, 2013, says the company.
At 12:13 hours IST, shares plunged nearly 4 percent to Rs 218.85 amid large volumes on Bombay Stock Exchange on Friday.
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