BHEL reports net profit of Rs 93.54 crore in Q3; sales grow to Rs 6,465 crore

NEW DELHI: Capital goods major BHEL on Tuesday reported a net profit of Rs 93.54 crore for the quarter ended December 31, 2016, which was lower than Rs 115 crore profit estimated by analysts at an ET Now poll.

The engineering and construction major had reported a net loss of Rs 1,084.96 crore for the same quarter last year.

In a filing to BSE, the company said net sales for the quarter jumped to Rs 6,464.86 crore from Rs 5,449.01 crore in the year-ago quarter. This again fell short of analysts estimate of Rs 6,531 crore sales .

Yet, investors gave thumbs up to the earnings on the counter. Following the results, the stock shot up over 5 per cent to hit a high of Rs 152 on BSE.

The company said revenue for power segment climbed to Rs 5,096.23 crore, compared with Rs 4,312.72 crore reported for the year-ago quarter. Industry segment too reported higher sales of Rs 1,368.63 crore, compared with Rs 113.29 crore in the same quarter last year.

The company reported an earnings per share of 0.38 paise for the quarter, compared with 0.44 paise in the September quarter. The state-run company announced a dividend per share of Rs 0.80 paise.