The matter related to the financial years 2018-19 and 2020-21. The Joint Commissioner had earlier dropped the show-cause notice, and the department’s appeal against that decision has now been set aside.
Also Read: BHEL signs tech transfer deal with DRDO lab for radar dome manufacturingBHEL stated that the favourable order has been accepted by the company and no further action is required. The order has no impact on the company’s financials or operations.
First quarter resultsBharat Heavy Electricals reported a net loss of ₹455.4 crore for the first quarter that ended June 30. In the corresponding quarter of the previous fiscal, BHEL posted a net loss of ₹211 crore, mainly due to higher expenses. The company’s revenue from operations edged up 0.4% to ₹5,486.9 crore against ₹5,484.9 crore in the corresponding period of the preceding fiscal.
In the power sector, BHEL secured an order for the supply, erection, and commissioning supervision of six 800 MW steam turbine generators. Additionally, the company, in consortium with a global OEM, will design and execute 6,000 MW ±800 kV HVDC terminals for the Bhadla–Fatehpur transmission project.
Also Read: BHEL shares surge after bagging ₹7,500 crore contract from Gujarat State Electricity Corporation
In the transportation segment, Indian Railways placed orders for various components, including 6,531 KVA traction transformers, high-speed traction motors, and 107-teeth bull gears. Further, the company received orders for power transmission equipment — comprising eight 315 MVA 400 kV transformers, eight 160 MVA auto transformers, and one 500 MVA 400 kV transformer — from utilities.
Shares of Bharat Heavy Electricals Ltd ended at ₹214.80, up by ₹2.58 or 1.22%, on the BSE today (September 2).
(Edited by : Shoma bhattacharjee)
