BHEL Shares Jump on Posting 112% Rise in Q4 Net | CORPORATE ETHOS

BHEL Shares Jump on Posting 112% Rise in Q4 Net

By: | May 29, 2018

May 29: State-run power plant equipment manufacturer Bharat Heavy Electricals Ltd (BHEL) on Tuesday posted a jump of 112% in its net profit (PAT) for the fourth quarter ended 31st March 2018. The profit stood at Rs 457 crore as against Rs 216 crore last year.

The turnover for the quarter was Rs 9,833 crore compared to Rs 9,479 crore in the last year.

Net profit for the year also increased 63% to Rs 807 crore as against Rs 496 crore in the previous fiscal.

“Maintaining the trend of topline growth for the second consecutive year, BHEL has also recorded a turnover of Rs 27,850 crore, as against Rs 27,740 crore in the previous year. Notably, on a comparable basis, the turnover for FY 2017-18 would have been higher by Rs 488 crore totaling to Rs 28,338 crore, a jump of 2.2 % over the previous year, considering the duties & taxes on bought-out items & civil turnover which were forming part of the turnover in pre-GST regime,” the company said in a BSE filing.

Meanwhile, the company’s order book stands at Rs 40,932 crore in FY 2017-18. According to the company, this is a quantum jump of 74% over FY 2016-17. The orders comprise of Rs 33,342 crore in the power segment and Rs 7,590 crore in the industry and overseas segments combined, it said.

Shares of the company surged more than 7% and touched a new one week-high of Rs 86.80 intraday today on BSE after the news came in. At 2.41 pm, the Rs 2 face value shares were trading at Rs 83.50, up 5.43% from the previous closing of Rs 79.20.