BHEL April-june net up 54.2% to Rs 77.8 cr

FOR THE QUAR­TER ENDED JUNE 30, BHEL’S TO­TAL IN­COME GREW BY 29.7% TO RS 5,622 CRORE COM­PARED TO RS 4,367 CRORE A YEAR AGO

Resource Digest - - CONTENT -

State- run power plant equip­ment maker BHEL re­ported a 54.2% jump in its net profit to Rs 77.8 crore for the April-June quar­ter on the back of growth in power busi­ness. The com­pany had re­ported a profit of Rs 50.4 crore in the cor­re­spond­ing pe­riod a year ago.

For the quar­ter ended June 30, BHEL’S to­tal in­come grew by 29.7% to Rs 5,622 crore com­pared to Rs 4,367 crore a year ago. The com­pany re­ported a pos­i­tive growth in its rev­enue for the first time in over three years. The com­pany also re­ported a 4% in­crease in its earn­ings be­fore in­ter­est, taxes, de­pre­ci­a­tion and amor­ti­za­tion ( EBITDA) to Rs 320.2 crore against Rs 308.4 crore a year ago.

Rev­enue from com­pany’s power busi­ness in­creased by 38.1% to Rs 4,335 crore against Rs 3,290 a year ago while its rev­enue from industry seg­ment too rose to Rs 1,385.70 crore in the first quar­ter from Rs 1,131.23 crore in the same pe­riod a year ago.

The com­pany’s or­der book stood at Rs 1.08 lakh crore at the end of the first quar­ter. In­dia Rat­ings and Re­search has down­graded state- owned BHEL’S long ¬ term is­suer rat­ing to IND AA+ from IND AAA and a neg­a­tive out­look has been as­signed to all long- term rat­ings.

“Ind ¬ Ra has down­graded Bharat Heavy Elec­tri­cals’ ( BHEL) long- term is­suer rat­ing to IND AA+ from IND AAA. Si­mul­ta­ne­ously, all rat­ings have been re­moved from Rat­ing Watch Neg­a­tive ( RWN) and a neg­a­tive out­look has been as­signed to all long ¬ term rat­ings,” BHEL said in a BSE fil­ing. The mar­kets re­acted to the re­sults pos­i­tively with the firm’s stock surg­ing 15.50% to end at Rs 159.80 on the BSE. The scrip was the big­gest gainer among the 50 Nifty com­po­nents. The com­pany’s mar­ket val­u­a­tion rose by Rs 5,250.65 crore to Rs 39,112.65 crore.

REV­ENUE FROM COM­PANY’S POWER BUSI­NESS IN­CREASED BY 38.1% TO RS 4,335 CRORE AGAINST RS 3,290 A YEAR AGO WHILE ITS REV­ENUE FROM INDUSTRY SEG­MENT TOO ROSE TO RS 1,385.70 CRORE IN THE FIRST QUAR­TER FROM RS 1,131.23 CRORE IN THE SAME PE­RIOD A YEAR AGO

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