Bhel drops amid volatility after poor Q2 outcome

Bharat Heavy Electricals lost 0.7% to Rs 141.30 at 13:55 IST on BSE after net profit fell 64.22% to Rs 455.95 crore on 11.31% decline in total income to Rs 9482.25 crore in Q2 September 2013 over Q2 September 2012.

The Q2 result was announced during trading hours today, 6 November 2013.

Meanwhile, the S&P BSE Sensex was down 30.94 points or 0.15% at 20,943.85.

On BSE, 16.50 lakh shares were traded in the counter as against average daily volume of 12.78 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 2.52% at the day's low of Rs 138.70 so far during the day. The stock rose as much as 1.82% at the day's high of Rs 144.90 so far during the day. The stock had hit a 52-week low of Rs 100.35 on 20 August 2013. The stock had hit a 52-week high of Rs 247.50 on 7 December 2012.

The stock had underperformed the market over the past one month till 5 November 2013, declining 1.15% compared with the Sensex's 5.32% rise. The scrip had, however, outperformed the market in past one quarter, surging 17.7% as against Sensex's 9.34% rise.

The large-cap state-run power equipment major has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

Bharat Heavy Electricals (Bhel) said that the results for the quarter and half year ended 30 September 2013 includes financial results of HPVP unit (erstwhile M/s BHPV). Consequent to this, impact of HPVP unit for and upto the quarter ended on 30 September 2013 includes turnover of Rs 16.69 crore and loss of Rs 191.35 crore before tax. The impact on Reserves & Surplus is reduction by Rs 311 crore, Bhel said. In view of this, figures for the current reporting period are not comparable with the previously reported period figures, Bhel added.

Bhel's order book stood at Rs 102300 crore as on 30 September 2013.

Bhel is the largest engineering and manufacturing enterprise in India in the energy related/infrastructure sector. The company caters to the core sectors including power, transmission, industry, transportation, renewable energy, oil & gas and defence.

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