Minister of State for Heavy Industries and Public Enterprises Babul Supriyo said in reply to a written question in the Lok Sabha on Tuesday that Bharat Heavy Electricals Limited (BHEL) reported a net loss of Rs. 877 crores for the financial year 2015-16 as per the then tentative/provisional flash results. Subsequently on May 27, 2016, BHEL reported a net loss of Rs. 913 Crore after Statutory Audit of the Company for the financial year 2015-16.
He pointed out that the performance of BHEL was impacted due to continued subdued business environment, resulting in reduced level of operations and non-lifting of hold in many of the stranded projects of various customers in which the Company is engaged as a contractor/ supplier.
To overcome the situation, he added, the company is pursuing initiatives in diversification, eyeing new business opportunities emerging in defence, railways, water, solar and also in the conventional power sector.
BHEL pursuing strategies to wipe out losses
By IndianMandarins - 2016-07-20 00:03:22
Minister of State for Heavy Industries and Public Enterprises Babul Supriyo said in reply to a written question in the Lok Sabha on Tuesday that Bharat Heavy Electricals Limited (BHEL) reported a net loss of Rs. 877 crores for the financial year 2015-16 as per the then tentative/provisional flash results. Subsequently on May 27, 2016, BHEL reported a net loss of Rs. 913 Crore after Statutory Audit of the Company for the financial year 2015-16.
He pointed out that the performance of BHEL was impacted due to continued subdued business environment, resulting in reduced level of operations and non-lifting of hold in many of the stranded projects of various customers in which the Company is engaged as a contractor/ supplier.
To overcome the situation, he added, the company is pursuing initiatives in diversification, eyeing new business opportunities emerging in defence, railways, water, solar and also in the conventional power sector.
