State-run power plant equipment maker Bharat Heavy Electricals Limited (BHEL) has posted better-than-expected June quarter results. Riding high on good business in power segment, it reported 54.21 per cent jump in net profit at Rs 77.77 crore in April-June period. In the corresponding period last fiscal, the company had posted a net profit of Rs 50.43 crore.
BHEL’s total income, for the quarter ended June 30, 2016, increased from Rs 4,858.95 crore to Rs 5,871.78 crore. Showing a double-digit growth of 29 per cent compared to the corresponding period in the previous year, the company has successfully reversed the trend of negative topline growth prevailing for the last 14 straight quarters. The company reported total sales at Rs 5,523 crore for the quarter, whereas it had reported net sales of Rs 4,280.02 crore in the same quarter last year. EBITDA for the quarter stood at Rs 71 crore versus EBITDA loss of Rs 183 crore.
A beaming BHEL Chairman and MD Atul Sobti attributed the reversal in the trend of negative growth to specific steps of expeditious execution and enhanced order booking. BHEL’s stock was quoting at Rs 158.95, up Rs 20.60, or 14.89 percent on the BSE on Wednesday at 13:50 hrs.