No recruitment until growth is back: BHEL
With orders for power equipment drying up in the wake of the current economic slowdown, state-run capital goods company Bharat Heavy Electricals Ltd (BHEL) has suspended its plan for fresh recruitments. The company’s profit slumped over 60 per cent in the three months ended September 30. In fact, it did not get even a single order during the first six months of the current fiscal. The first order for 2013-14 came in October. The company’s dues from project developers have reduced, but BHEL Chairman B Prasada Rao said he will share the actual numbers only after the third quarter financial results are out next week.
With orders for power equipment drying up in the wake of the current economic slowdown, state-run capital goods company Bharat Heavy Electricals Ltd (BHEL) has suspended its plan for fresh recruitments. The company’s profit slumped over 60 per cent in the three months ended September 30. In fact, it did not get even a single order during the first six months of the current fiscal. The first order for 2013-14 came in October. The company’s dues from project developers have reduced, but BHEL Chairman B Prasada Rao said he will share the actual numbers only after the third quarter financial results are out next week.
Read the Hindu Business Line news report here.
