State-run Bharat Heavy Electricals Ltd (BHEL) on Friday reported a net loss of Rs 343.9 crore for the first quarter that ended June 30, 2023. In the corresponding quarter last year, BHEL posted a net loss of Rs 188 crore, the company said in a regulatory filing.

In the quarter, total revenue stood at Rs 5,003.4 crore during the period under review, up 7.1 percent against Rs 4,672 crore in the corresponding period of the preceding fiscal.

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At the operating level, EBITDA jumped 14.9 percent to Rs 1,037.4 crore in the first quarter of this fiscal over Rs 902.7 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 20.7 percent in the reporting quarter as compared to 19.3 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The results came after the close of the market hours. Shares of BHEL ended at Rs 98.95, down by Rs 1.80, or 1.79 percent on the BSE.