Mumbai: Bharat Heavy Electricals Ltd , India`s state-run top power equipment maker, reported on Saturday a 51 percent fall in provisional net profit for the fiscal year ended March 31.
India`s power sector has been badly hit by shortages of coal and gas supplies, delays in environmental approvals for power and mining projects and drying up of funding -- severely denting the demand for equipment.
Provisional net profit at the company fell to 32.28 billion rupees in the last fiscal year 2013/14 from 66.15 billion rupees reported in the fiscal year 2012/13, a company statement said.