BHEL shares rose over 4% on Wednesday, October 14, after its September quarter results beat analyst expectations. The company reported a 23.8% revenue growth, while net profit more than doubled to ₹810 crore. Margins expanded to 11% despite rising expenses, helping the stock climb higher for many happy investors today.
BHEL shares rose over 4% after its September quarter results beat analyst expectations across all parameters, featuring a 23.8% revenue growth, net profit more than doubling to ₹810 crore, and margins expanding despite rising expenses.
State-run Bharat Heavy Electricals Ltd. (BHEL) saw its share price jump over 4% on Wednesday, October 14, after its September quarter results turned out to be a beat on analyst expectations by a wide margin across parameters.
BHEL reported a 23.8% revenue growth figure in the September quarter. The ₹9,300 crore number was higher than the CNBC-TV18 poll of analysts, which stood at ₹9,236 crore.
Net profit for the period stood at ₹810 crore, which is more than 2x higher than the year-ago profit figure of ₹368 crore. The CNBC-TV18 poll had pegged the figure to be 654.4 crore.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter stood at ₹1,026 crore, a growth of 77% on a year-on-year basis, and also higher than the CNBC-TV18 poll of ₹881 crore.
EBITDA margin for the quarter expanded by 330 basis points to 11% from 7.7% in the year-ago quarter. The CNBC-TV18 poll had projected a figure of 9.5%.
BHEL's margins saw expansion despite other expenses rising to ₹721 crore at the end of the September quarter, from ₹391 crore last year.
Shares of BHEL are trading 3.6% higher after the results announcement at ₹458.35. The stock is up 57% so far this year.