BHEL’s Q1 net profit up 54%, stock rises 15%

Mumbai, Sep 7 (IANS) State-run power equipment manufacturer Bharat Heavy Electricals (BHEL) on Wednesday reported a rise of 54.21 per cent in its standalone net profit for the first quarter of 2016-17.

The company’s Q1 net profit stood at Rs 77.77 crore from Rs 50.43 crore reported in the corresponding quarter of 2015-16.

The company posted a net profit after three consecutive quarters of losses.

The power equipment manufacturer’s total income from operations for the quarter under review increased by 28.72 per cent to Rs 5,622.46 crore from Rs 4,367.70 crore for the corresponding period of last fiscal.

BHEL’s net sales edged up by 29.03 per cent to Rs 5,522.76 crore from Rs 4,280.02 crore during the first quarter of 2015-16.

According to the company, it has an outstanding order book position of Rs 108,000 crore at the end of Q1 2016-17.

At the BSE, the company’s scrip rose 15.50 per cent to Rs 159.80 from its previous close of Rs 138.35.

The scrip touched a high of Rs 161.40 and a low of Rs 134.35 during the intra-day trade.

–IANS

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