Bharat Heavy Electricals Limited (BHEL) is trading higher 1.5% at Rs 219, bouncing back almost 3% from day’s low on reporting a better-than-expected 13% year-on-year (yoy) growth in net profit at Rs 921 crore for the quarter ended June 2012. Analysts, on an average, expected a net profit of Rs 786 crore from the state-owned capital goods company.
Net sales grew 17% at Rs 8,326 crore on y-o-y basis. Q1 EBITDA margins however, remained intact at around 14.4% against 14.3% in the same period last year.
Meanwhile, the company said it has an outstanding order book position of Rs 1.33 lakh crore at end of June quarter.
The stock opened at Rs 217 and hit a low of Rs 213 before than announcement of Q1 results on the National Stock Exchange. A combined 4.08 million shares have changed hands on the counter so far on both the exchanges.
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