- BHEL reported Q1 net profit of Rs 378 crore, reversing last year’s Rs 456 crore loss
- Revenue rose 40.3% to Rs 7,698 crore, surpassing Bloomberg’s Rs 6,129 crore estimate
- EBITDA improved to Rs 504 crore from a Rs 537 crore loss, with a 6.5% margin
Bharat Heavy Electricals Ltd. reported a sharp rise in first-quarter earnings, driven by higher revenue and an improvement in operating performance, while beating Bloomberg estimates on revenue, profit and margins.
The company reported consolidated net profit of Rs 378 crore for the quarter ended June, compared with Rs 456 crore loss a year earlier. Revenue rose 40.3% year on year to Rs 7,698 crore from Rs 5,487 crore.
BHEL Q1 Results (Consolidated, YoY)
Revenue up 40.3% to Rs 7,698 crore versus Rs 5,487 crore. (Bloomberg Estimate: Rs 6,129 crore)
Ebitda at Rs 504 crore versus Ebitda loss of Rs 537 crore. (Bloomberg Estimate: Rs 78.9 crore)
Margin at 6.5%. (Bloomberg Estimate: 1.3%)
Net profit at Rs 378 crore versus loss of Rs 456 crore. (Bloomberg Estimate: Rs 33.9 crore)
Other income at Rs 214.1 crore versus Rs 171.2 crore.
Other income increased to Rs 214.1 crore from Rs 171.2 crore in the corresponding quarter last year.
The Power segment led the quarter's growth, with revenue rising to Rs 5,919.5 crore from Rs 3,898.9 crore a year earlier, while the Industry segment's revenue increased to Rs 1,778.2 crore from Rs 1,588.1 crore.
BHEL said trade receivables include an overdue amount of Rs 196 crore ($23 million) from customer STPG, formerly NEC Sudan, which has remained outstanding due to the ongoing crisis in Sudan. The company continues to classify the amount as recoverable
Shares of BHEL extended gains for the second consecutive trading session. The stock rose as much as 2% to Rs 426.15, compared with 0.1% gains in the NSE Nifty 50.
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