BHEL Q3 Earnings: Net profit grew by 56%, revenue lags marginally in Q3

Bharat Heavy Electricals Limited (BHEL) is a Maharatna CPSE with a market capitalization of Rs. 26,237.35 crore.

Bharat Heavy Electricals Limited (BHEL) is a Maharatna CPSE with a market capitalization of Rs. 26,237.35 crore. Bharat Heavy Electricals (BHEL) announced its third-quarter profits today, with consolidated net profit increasing by 56.48% year on year to 42.28 crore in Q3 FY23 from 27.02 crore in Q3 FY22. According to the corporation, income from operations climbed marginally during the December 2022 quarter, jumping from Rs. 4918.98 Cr. to Rs. 4939.49 Cr. Profit before tax was 52.71 crore in Q3 FY23, up 59.73 percent year over year from 33 crore in Q3 FY22.

While BHEL’s industrial sales reached Rs 947.37 crore in Q3FY23, they were down 20.75% year on year from Rs 1195.49 crore in Q3FY22. The Maharatna PSU company’s electricity revenue reached Rs. 3,992.12 crore in Q3FY23, up 7.21% year on year from Rs. 3723.49 crore in Q3FY22. BHEL’s consolidated EPS was 0.12 in Q3FY23, up from 0.08 in the previous quarter, while the business posted net costs of 5320.84 Cr in Q3FY23, up from Rs. 5206.79 Cr in the previous quarter.

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BHEL reported standalone revenue from operations of Rs. 4939.49 crores, up from Rs. 4918.98 crores in Q3 FY22. The firm reported a net profit of Rs. 31.00 Cr in Q3FY23, up from Rs. 14.26 Cr in Q3FY22, reflecting a 117.39% increase. BHEL’s EPS in Q3FY23 was 0.09, compared to 0.04 in the previous quarter. In Q3 FY23, the firm generated net costs of Rs. 5320.84 Cr, compared to Rs. 5206.79 Cr in the previous quarter.

BHEL shares finished at 75.10 on the NSE today, down 1.64% from the previous close of Rs. 76.35. With an upward track of 18%, the stock posted a net average volume of 11,113,040 shares compared to a delivery average volume of 203,368,632 shares. The stock has increased 33.39% in the previous year and has decreased 6.30% year to date in 2023. On (05-Dec-2022), the stock reached a 52-week high of Rs. 91.55 and a 52-week low of Rs. 41.40. (20-Jun-2022).