Stock Market Today: Bharat Heavy Electricals Ltd (BHEL) reported net profit of ₹96.67 Crore at the standalone level during Q2FY25 (July-September 2024 quarter) versus a loss of ₹58.3 crore in the year ago quarter. BHEL also had reported a loss of ₹212 crore during the previous quarter.
BHEL share price thereby gained up to 8% in the intraday trades on Monday. The BHEL share price had opened at ₹217.15 on the BSE on Monday, only slightly higher than ₹216.95 on the previous day. BHEL share price post Q2 results announcement gained up to 10% to intraday highs of ₹238.60. Bhel Share price ended the day at ₹229.80 with 5.92% gains
Analyst had also been anticipating a loss during the quarter and thereby company reporting a net profit boosted Steet sentiments. Analysts at Prabhudas Lilladher in their results preview had anticipated net a net loss of ₹42 crore by BHEL during the September quarter.
The BHEL reported revenues from Operations during the September 2024 quarter at ₹6584. 10 crore grew 25% compared to ₹5125.29 in the year ago quarter. On a sequential basis also revenue from operations grew 20% compared to ₹5484.92 during the previous quarter.
The power segment contributing three fourth to overall revenue, saw revenues grow 23.45% over ₹4073 crore in the year ago quarter. The Segment profit before Tax & Finance Cost at ₹337.27 grew multifold from ₹63.58 crore in the year ago quarter. In the June quarter power segment had reported a loss at the PBIT level. Thus the power segment lifted overall performance for BHEL.
The Industry segment revenues at ₹1555.82, contributing fourth to overall revenues also grew more than 48% compared to ₹1052.29 crore in the year ago quarter and 15% over ₹1356.82 crore in the June quarter. The segment PBIT at ₹216.42 crore also grew compared to a loss in the year ago quarter
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