In comparison to the June quarter of FY23, Bharat Heavy Electricals Limited reported a combined net loss of 343.9 crore rupees. Revenue for the company increased by 7.1% to 5,003.4 crores in Q1FY24 from 4,672 crores in Q1FY23.
EBITDA for the company increased by 14.9% to $1,037.4 billion from $902.7 billion a year earlier. On the other hand, its EBITDA margin was 20.7% as opposed to 19.3% in the same time last year.
On Friday, the company’s shares on the BSE closed 1.79% lower at 98.95 crore per share. Its share value climbed by 87.94% during the past 12 months and by 23.53% year to date.
In Q1FY24, the company’s revenue increased by 7% to 5,003.4 crore. A further breakdown of the company’s sales reveals that the power segment’s revenue climbed to 999.21 crore in Q1FY24 from Q1FY23’s 923 crore. In comparison to Q1FY23, its industrial segment revenue climbed to Rs. 4,818.37 crore in Q1FY24.
The country’s increased demand for electricity favors BHEL, a manufacturer of power producing equipment. According to corporate statistics, it generates roughly 57% of all the coal-based electricity in India. The company’s success is anticipated to suffer as a result of the Indian government’s change in strategy to address global warming. To combat climate change, the center needs to stop developing new coal plants. By 2070, the nation wants to have net-zero emissions.
The business made a net profit of 611 crore rupees in the fourth quarter of FY23, the most recent financial quarter. When compared to the PAT of 912.47 crore posted in Q4FY22, the net profit decreased by 33% YoY. Sequentially, the company’s profitability increased many times over. The company’s status has changed, nevertheless, as a result of the loss this quarter.
