New Delhi, Jul 31 (IANS): Engineering giant Bharat Heavy Electricals Ltd (BHEL) on Wednesday reported a net loss of Rs 211 crore for the April-June quarter of 2024-25.

The company had also recorded a net loss of Rs 205 crore in the same quarter last year.

The company's losses widened despite a rise in its turnover on the back of a rising demand for power equipment in the country.

The company’s revenue from operations increased 9.6 per cent to Rs 5,845 crore in the June quarter from Rs 5,003 crore in the same quarter last fiscal.

BHEL also restated its figures from the previous year to reflect adjusted expenses of Rs 2,330 crore, which included deferred tax and provisions and write-offs, according to an exchange filing.

BHEL had announced in an exchange filing on Monday that it has “received a Letter of Intent from Damodar Valley Corporation (DVC) for setting up the 2x800 MW Koderma Phase-II Thermal Power Station at Koderma District, Jharkhand on EPC basis.”

Under the terms of the order, BHEL will be responsible for the supply of equipment including Boiler, Turbine, Generator and associated auxiliaries along with electrical and C&I, balance of plant packages; erection & commissioning; and other civil works, the company said in a statement.

The project is expected to be completed in 52 months, BHEL added.

Shares of BHEL had shot up as much as 3.05 per cent to hit an intraday high of Rs 327 per share on NSE after the announcement.