BHEL Struggles with Revenues, Tata Steel Net Plunges 70%

Mukesh Buch
13 Aug, 2014
New York City

BHEL net tumbled 58% and revenue declined 21%. EIL net plunged 38%. IOC, Sun Pharma, Siemens net swung to profit. NMDC net soared 22%. P&G net surged 73%. Tata Steel net tumbled 70.4%. Tata Power net loss narrowed.

[R]6:00 PM Mumbai – BHEL net tumbled 58% and revenue declined 21%. EIL net plunged 38%. IOC, Sun Pharma, Siemens net swung to profit. NMDC net soared 22%. P&G net surged 73%. Tata Steel net tumbled 70.4%. Tata Power net loss narrowed.[/R]

The Sensex Index rose 38.18 to close at 25,918.95 The CNX Nifty gained 12.50 to 7,739.55.

Gainers & Losers

Bharat Heavy Electricals Limited plunged 6.6% to Rs 209 after net profit in the first-quarter tumbled 58.4% to Rs 193.50 crore and total revenue plummeted 21.3% to Rs 5,502.76 crore.

Engineers India Limited tumbled 13.9% to Rs 238.70 after net profit in the first-quarter plunged 37.8% to Rs 80.40 crore and net sales fell 1.7% to Rs 435.49 crore.

Indian Oil Corporation Limited gained 1% to Rs 344.40 after the company reported net in the first-quarter swung to profit Rs 2,522.94 crore from a net loss of Rs 3,093.23 crore and total revenue soared 14.2% to Rs 1,26,773.91 crore.

NMDC Limited gained 0.5% to Rs 174.15 after net profit in the first-quarter soared 21.8% to Rs 1,915.01 crore and total revenue jumped 18.5% to Rs 4,018.55 crore.

Procter & Gamble Hygiene & Health Care climbed 2.8% to Rs 4,794.50 after net profit in the fourth-quarter surged 73.4% to Rs 89.92 crore and revenues soared 14.9% to Rs 486.10 crore.

Sun Pharmaceutical Industries Limited jumped 2.1% to Rs 800.25 after the company reported net in the first-quarter swung to profit Rs 1,391 crore compared to a loss of Rs 1,276 crore and net sales climbed 13% to Rs.3,926.85 crore.

The company said sales in the United States climbed 7%.

Siemens Ltd declined 3.1% to Rs 842.65 after the company reported net in the first-quarter swung to profit Rs 12.99 crore compared to a loss of Rs 48.82 crore and revenue plunged 9.2% to Rs 2,400.65 crore.

Tata Steel Limited slipped 1.3% to Rs 534.70 after net profit in the first-quarter tumbled 70.4% to Rs 337.33 crore and total revenues jumped 11.1% to Rs 36,643.35 crore.

Tata Steel said the net profit was hurt by provisions for impairment of non-core assets and a higher tax expense of Rs 262 crore.

Tata Power Company Limited dropped 2.6% to Rs 88.60 after net loss in the first-quarter narrowed to Rs.111.30 crore from Rs.114.70 crore and net revenue declined 6% to Rs.8,765.65 crore.