Analysts in an ET NOW survey have projected a net profit of Rs 1,344 crore for the quarter.
Revenue from operations for the quarter fell to Rs 31,034.74 from Rs 35,328.45, a drop of 12.15 percent year on year.
“The impact of the pandemic in terms of lower revenues, higher credit provisions in the financial services business and the interruption of metro services, led to a decrease in profits,” the company said.
Exceptional items during the quarter ended September 30, 2020 include impairment of funded exposure in the heavy forging facilities joint venture and asset impairment in the power development business.
The company has declared a special dividend of Rs 18 per equity share to mark the successful completion of the divestment.
Cash generation from operations was strong during the quarter under review, largely complemented by proceeds from the divestment of the electricity and automation businesses.
The company pocketed orders worth Rs 28,039 crore at the group level during the quarter ended September 30, 2020, recording a 19% sequential improvement over the previous quarter, but a 42% decrease over the previous year. , on account of the postponement of award decisions caused in large part by the pandemic. International orders during the quarter made up 36 percent of total order intake.
.
