MUMBAI: Driven by robust execution and a recovery in the power equipment segment, the public sector Bharat Heavy Electricals (Bhel), which has been in the red for the past two quarters, has returned to the green with a Rs 375 crore net income in the September quarter, logging in a growth of 260 percent over the trailing 12 months period and a net loss of Rs 455.5 crore in the preceding June quarter.
In the September 2024 quarter the company had reported a net profit of Rs 97 crore, it said in an exchange filing.
All the key numbers beat the street expectation and the stock, in anticipation of good numbers, rose 3.5 percent up at Rs 245.55 on the BSE after hitting a high of Rs 246.50. The stock has been underperforming for long.
The company said revenue rose by 14.1 percent on-year to Rs 7,512 crore compared to Rs 6,584 crore.
It reported a strong performance across both its key business segments during the quarter. Power segment revenue rose sharply to Rs 5,675.64 crore, marking a robust 45.6 percent increase from Rs 3,898.86 crore in the June quarter and a 12.9 percent growth from Rs 5,028.28 crore in the year-ago period.
Similarly, the industry segment posted revenue of Rs 1,836.16 crore, up 15.6 percent from Rs 1,588.05 crore in the June quarter and 18 percent higher compared to Rs 1,555.82 crore in the same quarter last year.
As a result, total segment revenue from operations grew to Rs 7,512 crore reflecting a 36.9 percent sequential increase over Rs 5,486.91 crore in the previous quarter and a 14 percent year-on-year rise from Rs 6,584.10 crore.
At the operating level, the company reported an operating income of Rs 580.8 crore, a 111 percent jump from Rs 275 crore in the year-ago quarter. Margins expanded by 7.7 percent from 4.2 percent in the same quarter of the previous fiscal year.
