Heavy equipment maker, Bharat Heavy Electricals Ltd (BHEL) has recorded a negative order inflow in the third quarter till December 2011 for the first time in many years.

The company saw order cancellations of Rs. 5,800 crore in the third quarter till December 2011 and this resulted in an order inflow of Rs. 3,500 crore in the quarter. The company said that net sales for the October-December period rose 19 per cent to Rs. 10,550 crore from Rs 8850 crore recorded in the same quarter of the 2010.

The revenues of the company were according to the market expectations but the profit were below expectations. Company’s margin fell to 17.9 per cent in the quarter compared to versus 21.45 per cent in the corresponding quarter of the previous year. The operating profits of the company also fell 3 per cent to Rs. 1888 crore compared to Rs. 1942 crore.

In the first nine months of the financial year, the order inflow for BHEL stood at Rs. 10,000 crore against a guidance of Rs 55,000 crore for the financial year 2012.

The shares of the company fell 8% on the Bombay Stock Exchange (BSE) in early morning trade this morning after the company announced its third quarter figures on Friday.