Bharat Heavy Profit Drops on Lower Industry, Transport Earnings
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Bharat Heavy Electricals Ltd., India’s biggest maker of power-plant equipment, said second-quarter profit declined 10 percent because of a drop in earnings at its industry division.
Net income dropped to 12.7 billion rupees ($235 million) in the three months ended Sept. 30 from 14.1 billion rupees a year earlier, the company said today in a statement. The median profit of 33 analyst estimates in a Bloomberg survey was 13.6 billion rupees. Sales were little changed at 104 billion rupees.