Profit before tax during the quarter stood at Rs 877.03 crore, recording de-growth of 20.4% on YoY basis.

The PSU company's revenue from Power stood at Rs 6,166.31 crore (up 3.9% YoY) while revenue from Industry was at Rs 1,653.06 crore (down 0.74% YoY) during the period under review.

On full year basis, the company's consolidated net profit rose 7% to Rs 477.39 crore on 9.8% increase in net sales to Rs 22,136.30 crore in FY23 over FY22.

Meanwhile, the board of directors recommended a final dividend of Rs 0.40 per equity share for the financial year 2022-23.

State-run Bharat Heavy Electricals (BHEL) is engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services to the core sectors of economy. As of 31 March 2023, the Government of India held 63.17% stake in the company.

Shares of Bharat Heavy Electricals tumbled 3.59% to settle at Rs 78.93 on Friday, 26 May 2023.